New NAFTA rules could increase the cost of a car by hundreds or even thousands of dollars, act as a multibillion-dollar tax, and ultimately hurt sales as consumers keep their wallets shut, a new study predicts.
Ford's decision to discontinue almost all of its car models in North America within two years will leave its Canadian operations intact, since they are focused mainly on utility vehicles.
Nissan Canada has priced the Kicks, the automaker's newest entry in the compact utility vehicle segment, at $19,793, including shipping. That's lower than the vast majority of competitors.
Mitsubishi Canada, coming off two consecutive years of sales growth, has hired a former Volkswagen executive to oversee three newly added regional managers while expanding its national headquarters in Mississauga, Ont.
Fiat Chrysler said its first-quarter adjusted earnings rose five percent to C$2.51 billion as the automaker cut debt by C$2 billion. Earnings before interest and taxes in the NAFTA market fell two per cent.
Infiniti Lab, the luxury brand's startup accelerator program, will return to Toronto for the second consecutive year, giving tech businesses a chance to vie for funding and potential partnerships with the automaker.
Automotive supplier Stackpole International plans a $351-million expansion in Ontario, a move the company says will increase its North American customer base and focus on supplying alternative-fuel vehicles.
General Motors' net income and operating profit significantly fell in the first quarter due to planned downtime in its full-size pickup production, a restructuring in Korea and other costs. GM's earnings before interest and taxes declined 27 per cent.
Magna says the contract with the BMW Group “is one of the first in the auto industry to include solid-state lidar for serial production.” The Canadian supplier developed the lidar with Innoviz.
Ford said it plans to stop selling all Ford brand sedans in North America and that it has nearly doubled its cost-cutting target by 2022 from the plan it laid out only six months ago.
AutoNation's Mike Jackson, Toyota's Kiichiro Toyoda, Magna's Frank Stronach and Car Talk's Ray and Tom Magliozzi will be inducted into the Automotive Hall of Fame.
The vehicles BMW is recalling range in make and model under the BMW, Mini and Rolls-Royce brands. The model years extend from 2008 through 2012. Drivers are advised to park their vehicles outside.
