BUSINESS

Canada's Auto Industry Never Recovered From Great Recession: Report

Auto plant investment in Canada is roughly half what it used to be.

10/11/2017 12:17 EDT | Updated 10/11/2017 12:17 EDT
The Canadian Press/Dave Chidley
Auto production at the CAMI Automotive facility in Ingersoll, Ontario, Thursday, Dec. 21, 2006. A new report says there's "no sustained indication" that Canada's automotive manufacturing sector will return to pre-recession levels of capital investment.

TORONTO — A new report says there's "no sustained indication" that Canada's automotive manufacturing sector will return to pre-recession levels of capital investment.

DesRosiers Automotive Consultants says the country's loss of investment to Mexico and the southern U.S. has already been well documented.

Its new report says that capital spending for Canada's motor vehicle assembly industry has averaged just $1.2 billion a year since 2010.

Earlier on HuffPost: Justin Trudeau meets with auto industry members

That's down from $2.3 billion annually on average from 2000 through 2009, a period that included a deep recession that hammered automakers.

DesRosiers says parts and accessories manufacturers have also dropped capital spending to $565.9 million from $887.7 million prior to the recession.

However, it says investments by truck body and trailer manufacturers have increased on average from $52.7 million for 2000 to 2009 to $82.7 million since 2010.

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