“Canada’s definitely being hit hard,” said Sam Fiorani, head of global vehicle forecasting.
Production in Canada for the 12 months to July of this year was down 6.6 per cent compared with a year earlier — levels that were already low because of widespread shutdowns in the spring of 2020.
Meanwhile, Mexico saw production climb 11.3 per cent for the year until July, and the U.S. saw production climb 13.9 per cent in the same period.
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Canada is now on track to produce only about 1.2 million vehicles this year, down from 1.4 million last year and well off the 2.2 million yearly average for the decade up until 2019, according to a Scotiabank Economics report.
Production in Canada hasn’t hit these lows since 1982, when the industry was reeling from the triple shock of an oil crisis, rising overseas competition, and the worst recession in a generation.
