A recent update from DesRosiers Automotive Consultants reveals that Canadian auto shipments have pulled back somewhat in the first half of 2024.
DAC said the motor vehicle assembly industry in Canada has experienced continued structural and cyclical changes in recent years. This year is no exception, as the number of retooling, and priority, shifts. Data shows that first half shipments decreased 5.9% from the first half of 2023. Similarly, the motor vehicle parts sector experienced a 7.6% decrease in shipments for the first half of 2024; however, this figure remains above pre-pandemic levels.
Beyond the motor vehicle assembly and motor vehicle parts industries, shipments for the metalworking manufacturing sector and the motor vehicle body and trailer manufacturing industries were down in the first half — by 4.0% and 3.8%, respectively. However, both industries remain comfortably above pre-pandemic levels: metalworking jumped 18.0%, and body and trailer increased 48.5%, compared to the first half of 2019.
“As motor vehicle assembly in North America evolves, it will continue to impact all aspects of the interconnected web of auto-related manufacturing in Canada,”said Andrew King, Managing Partner at DAC, in a statement. “Nonetheless, with OEM investment and government support, Canada should continue to be a critical component in the North American automotive manufacturing space.”
