The Financial Post reports in its Friday, Nov. 14, edition that auto manufacturers worldwide are vying for a larger share of the Canadian market amid an ongoing trade war with the United States.
The Post's Gabriel Friedman writes that in August, vehicles made outside North America comprised 34 per cent of Canadian monthly sales, up from 28.8 per cent in March.
The share of vehicles made in Canada, the U.S. and Mexico sold in Canada fell from 71.1 per cent to 65.9 per cent.
Investment in auto manufacturing has been declining in Canada and the U.S., prompting President Trump to impose tariffs on foreign-made vehicles and parts.
From 2014 to 2024, Mexico's share of Canadian vehicle imports rose from 14.01 per cent to 16.7 per cent, while South Korea's increased from 5.86 per cent to 10.2 per cent. Japan and China also gained market share, but Germany and the U.K. saw declines.
U.S. vehicle exports to Canada fell from 60.8 per cent to 48.9 per cent of the market.
In 2024, vehicle production in Canada reached 1.24 million, a 58-per-cent decline from its 1999 peak of 3.1 million. The situation may worsen as the U.S. and Canada engage in a protracted trade battle.
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