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Wednesday, November 30, 2011

Investment in Mexican Manufacturing toppling Canadian Auto Industry


Canada's auto industry, which accounts for about 10 percent of the country's manufacturing output, is in danger of losing market share in North America as investment dollars flow to Mexico, an economist stated on Tuesday. Mexico overtook Canada in 2008 as the second biggest assembler of vehicles in North America after the United States, and now accounts for about 20 percent of the continent's output. Canada accounts for about 16 percent of North American vehicle assembly but that will probably change in the next years as big investments in Mexico's auto sector are projected to continue, Scotiabank economist Carlos Gomes said.

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