- After Auto-Pact was signed in the mid 1960’s, Canada was responsible for 20% of North American car production, reaching its peak in the 1980’s. It is now down to about 13% and is expected to be declining further still.
- Since 2000, five Canadian manufacturing facilities have closed and only one has opened.
- Auto industry employment has fallen by about 1/3.
- Since Mexico is part of NAFTA and their labour costs are about 1/8th to 1/10th of Canadian labour, Mexico now produces 20% of North American cars.
- With the Canadian dollar almost at par with the US dollar, Canada is losing competitive edge against US factories in Tennessee, Carolina and Alabama.
- A number of free trade deals with Europe, Japan and S-Korean.
- There are less incentives/subsidies by provinces, most notably Ontario.
- Far higher electricity rates, already the highest in North-America, and predicted to rise much further.
Invest where the growth is. Is it in the auto producing cities ?
Thomas Beyer, President
Prestigious Properties Group
T: 403-678-3330 or 604-564-7673
F: 403-770-8885 E: email@example.com