MRO Magazine

Auto parts industry enjoys bumper year in 2012

Toronto - Scotiabank says the Canadian auto parts industry enjoyed a bumper year in 2012, with full-year shipments accelerating 18% to an annualized $23.8 billion.


Toronto – Scotiabank says the Canadian auto parts industry enjoyed a bumper year in 2012, with full-year shipments accelerating 18% to an annualized $23.8 billion.

However, the bank says in its Global Auto Report that competition from low-wage countries is increasingly cutting into that business, especially in the growing electronics segment.

Meanwhile, the bank says global vehicle sales moderated in February 2013, undercut by weak volumes in western Europe and a distortion of purchasing patterns as a result of the Lunar New Year holidays in China.

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