Auto sector undergoing fundamental transformation: KPMG survey
BNN Bloomberg
A new survey shows Canada’s auto sector is rethinking supply chains and seeking new markets as it faces tremendous pressure from the trade war started by the United States.
“We’re seeing a foundational and irreversible transformation underway in the Canadian auto sector,” said Dave Power, who leads KPMG Canada’s automotive division, in a news release.
“The implications down the supply chain and across the economy will be significant.”
The KPMG Canada survey of 128 automakers and suppliers found that 82 per cent are actively adjusting their supply chain strategies and 70 per are exploring international markets.
The moves come as U.S. President Donald Trump has said he doesn’t want any cars coming into the country from Canada and has imposed a variety of tariffs to impede imports.
The survey found that 63 per cent of original equipment manufacturers and suppliers have increased prices because of the new tariff environment and 62 per cent have substantially changed their product mix because of it.
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