One may see it surprising that Canada is actually one of the world's key players in the automotive industry, with the talk about car costs in the United States and the expanding worldwide demand for oil. While its car manufacturing market in Ontario constitutes 22 percent of all production in North America, it is currently the third largest manufacturer of autoparts worldwide, after the US and Japan. This sector that utilizes over 90,000 people is a notable economic keystone for the nation at present.
There are a number of factors causing this flourishing market, but mostly this is as a result of its annual capital investment of about $3.5 billion; evidence that it has considerable government support. The country's nationwide health care system is also an excellent help since it frees Canadian manufacturers from having to spend for medical insurance, which is now publicly funded, hence designating resources to further manufacturing. Ontario also gives support not only as a big production center, but also as a leading researcher in information technology and metal processing. This makes the country have the eighth biggest automotive sector in the world.
With this much development, the Canadian autoparts sector will see much more growth down the road since the US cars have increased by 13.5 percent last 2012. This indicates that there will shortly be a larger demand for spare parts. This, in turn, will direct a further rise in spare parts production.
Currently, this growth is exhibited by the product variety found in a lot of autoparts retailers in Canada. Spare parts presently exist for the most up to date models of cars from every major brand. These brands include almost all the huge companies from the US, Japan, and Europe.
Undoubtedly, all the nation's major assembly plants are from General Motors, Chrysler, Ford, Toyota, and Honda. These plants are liable for making more than 2.5 million cars that are later on distributed worldwide. These plants are also behind producing spare parts, later offered through factory outlets and discount retailers throughout the nation.
Time will tell if this progress will indeed continue or not. At present, the fruits of this development can be reaped by consumers and retailers alike in the form of quality automobiles and autoparts in the market. To discover more about the automotive industry of Canada, check out Osec's 2012 industry report at: osec. ch/de/filefield-private / files/42064/field _ blog_public_files / 8787.
An Overview of Canada's Auto Market