I doubt they’ll drop 'em completely as to not decimate Ontario’s auto sector, which I’m a part of. That would be a political suicide. I think we’ll see a foreign direct investment (FDI) promise plus some tariff adjustment that could help reverse this:
And help with that:
The financial picture for car buyers gets even uglier when you look at the average transaction price (meaning the actual selling price, excluding tax) for new vehicles. It was $53,100 in 2023, according to DesRosiers Automotive Consultants. That’s up 29 per cent from $41,200 in 2019 and up 59 per cent from $33,400 in 2014. Adjusting for inflation, the increase from 2014 and 2023 is 30 per cent (And no, cars have arguably not become 30 per cent better during that time.)
AutoTrader’s Canadian online data shows average new-vehicle asking prices (meaning advertised prices on AutoTrader) have finally started to soften, dropping to $65,219 at the end of 2024 from a peak of $67,817 in September, 2023. But, let me be clear, $65,219 is still a lot of money for a car.
I agree, a foreign direct investment approach would be good. We want to keep automotive skills and North American auto brands need competition otherwise we’ll never get affordable EVs.
I doubt they’ll drop 'em completely as to not decimate Ontario’s auto sector, which I’m a part of. That would be a political suicide. I think we’ll see a foreign direct investment (FDI) promise plus some tariff adjustment that could help reverse this:
And help with that:
Src
Either way it’ll be a sign for how this relationship reset will go forward. Whether it’ll be coercive, cooperative, etc.
I agree, a foreign direct investment approach would be good. We want to keep automotive skills and North American auto brands need competition otherwise we’ll never get affordable EVs.