15:30:04 EST Fri 13 Feb 2026
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Toyota CDR (CAD Hedged)
Symbol TOYM
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Close 2026-02-12 C$ 13.23
Market Cap C$ 1,984,500
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NP says Honda, rivals hear Carney EV plan panned

2026-02-13 09:31 ET - In the News

See In the News (C-HNDA) Honda CDR (CAD Hedged)

The National Post reports in its Friday, Feb. 13, edition that Prime Minister Mark Carney's new auto industry strategy appears to offer big support for Ontario's struggling manufacturers. The Post's Randall Denley writes that Mr. Carney's focus, however, on electric vehicles may not address the industry's issues. The Carney plan seems disconnected from the actual auto industry. It depends on electric vehicles that Ontario plants do not manufacture, an unrealistic surge in EV demand and a non-existent export market. Ottawa's $2.3-billion in EV rebates may encourage Canadians to buy foreign-made cars, with new Chinese imports excluded. Canada's Ontario-centric auto manufacturing industry is a marginal player in EVs. Mr. Carney is spending billions of dollars on rebates that are irrelevant to the Canadian industry. He aims to position Canada as a global leader in EV production, but a market for EVs needs to exist first. It will not be Canada. Consumer demand in Canada is too low to support EV-only plants. Canadians buy about 1.8 million vehicles annually, with EVs currently at just 10 per cent. An auto plant needs to produce around 200,000 units of one model yearly, but Canada's market cannot sustain that volume.

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