Canadian auto sector 'vulnerable,' analyst says
Dennis DesRosiers says Mexico and the souther U.S. poised to be 'big winners' in auto production
Posted: Sep 27, 2012 12:32 PM ET
Last Updated: Sep 27, 2012 6:16 PM ET
Auto analyst Dennis DesRosiers said Thursday that North American vehicle production should return to record levels by mid-decade.
In May, DesRosiers wrote on his website that "it’s clear from these [first-quarter] gains that the manufacturing backbone of Canada’s auto industry is enjoying a cyclical upturn as the North American automotive industry recovery gathers momentum."
On Thursday, he predicted North America will be producing 18 million units by 2015 or 2016.
However, DesRosiers said Mexico and the southern United States will be "big winners" when production ramps up.
He said Canada and the northern U.S. are "vulnerable."
DesRosiers made the comments while speaking to an auto marketing class at the University of Windsor.
The Canadian Auto Workers union signed new, four-year collective bargaining agreements with Chrysler, Ford and General Motors during the last 10 days.
The Ford deal created 600 new jobs, according to the union - 35 in Windsor and the rest in at the company's plant in Oakville.
The CAW said GM promised a third shift and 900 new jobs in Oshawa. It also promised $675 million in capital investment in Ontario, the union said.
Chrysler, though, never promised investment and did not add any Canadian jobs.
More to come.
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