CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

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CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

INSIDE THE NUMBERS: Key facts about the Canadian automotive market

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The State of the Canadian Auto Industry Report 2023, published by the Canadian Vehicle Manufacturers’ Association,  provides a snapshot of the economic contributions the auto industry makes to the Canadian economy and key trends underway in the sector. PHOTO courtesy General Motors Canada.

Since the 1960s, Canada has reaped enormous economic and social benefits by being part of an integrated auto sector in North America. Through aligned regulations, competitive supports, and supportive trade policies, Canada manufactures and sells into a market accounting for annual sales of nearly 20 million vehicles.

The State of the Canadian Auto Industry Report 2023, published by the Canadian Vehicle Manufacturers’ Association,  provides a snapshot of the economic contributions the auto industry makes to the Canadian economy and key trends underway in the sector.

The auto industry is a key driver of the Canadian economy, making a $14 billion contribution to GDP in 2022. The industry supports nearly 500,000 jobs across Canada, with over 90% of automotive manufacturing jobs full-time and hourly wages that exceed provincial and national averages. As Canada’s second-largest goods export, motor vehicles are critical to Canada’s economic prosperity.

Not only are automakers major exporters, but they also buy billions of dollars of parts, materials, and components from a vast network of suppliers across Canada. This wide-reaching supply chain explains why every job in an assembly plant supports nine additional jobs, one of the highest job multipliers among all industries.

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