The automotive industry of Canada is a branch of the Canadian economy.
The Canadian automotive market is characterized by large production volumes. Its growth is mainly due to foreign branches and subsidiaries of Japanese and American companies.
Canada is currently the tenth largest automaker in the world, producing 2.1 million vehicles a year, having dropped from seventh place with 3 million a year a few years ago. China, Spain, India, Brazil, Mexico have recently surpassed Canadian production for the first time. Canada achieved high ratings when it was the second largest producer in the world between 1918 and 1923 and the third after World War II.
Canada’s automotive industry mainly consists of assembly plants of foreign automakers, most of which are headquartered in the United States or Japan, as well as hundreds of manufacturers of automotive parts and systems.
In general, foreign branches of global companies make a significant contribution to the budget of Canada. Thus, a branch of the General Motors concern invested in the development of production the largest amount during the existence of the Canadian automotive industry – $ 2.5 billion. These funds will be used to conduct new research, increase the production capacity of plants and their modernization, and develop electric fuel cell vehicles.
On the territory of Canada (mainly in the province of Ontario) there are also a large number of factories of such major automobile manufacturers as Ford and Toyota. However, it is worth noting that Ford’s share is significantly decreasing: periodically there are news about the closure of factories and the reduction of employees. The same cannot be said about Japanese manufacturers, who are increasingly invading the North American market.
