CVMA Unveils State of the Canadian Automotive Industry Report

December 21, 2023 PRESS RELEASE

The Canadian Vehicle Manufacturers’ Association (CVMA) today released a new report that details automakers’ contributions to the Canadian economy and key trends underway in the industry. The report shows that CVMA members Ford, General Motors, and Stellantis are leading a wave of new automotive investment in Canada.

“The automotive industry is a key driver of the Canadian economy as one of its largest manufacturing sectors and exporters”, said Brian Kingston, President & CEO of the Canadian Vehicle Manufacturers’ Association. “But what stands out in this report is the major investments Ford, General Motors, and Stellantis have made in Canada since 2020, with nearly $15 billion in new capital announced creating 6,000 direct jobs and tens of thousands throughout the supply chain”.

The report outlines the importance of the automotive industry to the Canadian economy, including through job creation and exports. It also includes data on automotive production, vehicle sales, and investments into electrification and innovation.

“CVMA members are at the forefront of the transformation to electrification in Canada,” said Kingston. “The majority of their new investments in Canada are dedicated to electric vehicle assembly and the emerging battery supply chain”.

The report is available here: State of the Canadian Automotive Industry

For further information, please contact:

Canadian Vehicle Manufacturers’ Association
Office: 416.364.9333