TORONTO - A new Scotiabank report on the global auto industry says Canadian exports appear to be stuck in neutral while most other major vehicle producing countries, including the United States, have expanded sales outside their home regional markets.
The report also says Canada accounted for only 20 per cent of all imports to the United States last year, down from 31 per cent in 2000, losing ground to vehicles from Mexico, Europe and Asia.
Scotiabank economist Carlos Gomes writes that Canada remains the second-largest vehicle exporter to the United States after Japan but notes that neither country has surpassed pre-recession levels of vehicle assemblies while the other Top 10 producers have surged ahead.
