Toyota to boost investment in Canada with plans to build two more Lexus SUVs at Ontario plant

Toyota Motor Corp. plans to begin building two more Lexus SUVs in Canada, according to people familiar with the matter, a major win for the nation’s otherwise-struggling auto sector.

Passenger-vehicle production in Canada is projected to drop by 20 per cent this year as GM winds down operations in Oshawa, Fitch Solutions Macro Research said in December. Production in Oshawa fell to about 148,000 vehicles in 2017 from a peak of 940,000 in 2003, a drop of about 85 per cent, according to Dennis DesRosiers of DesRosiers Automotive Consultants Inc.A year ago, Toyota announced it would invest $1.

President Donald Trump last month linked Toyota’s announcement of the RAV4-related investment in Georgetown, along with spending on several other U.S. plants, to the U.S.-Mexico-Canada Agreement, or USMCA, the still un-ratified deal intended to replace NAFTA.

Great news! I may ditch my GM vehicle and purchase one!

Interesting to see which level of government takes credit for this? All levels likely but could they all have contributed to Toyota’s decision

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Canada’s investment in prison system model isn’t bringing results, watchdog reportsRecently announced spending will give Canada approximately one staff member for every inmate, an employee-to-prisoner ratio that would lead the world. This investment isn’t bringing the expected results, however We have no money for hospitals or community healthcare but we can overhaul the Correctional System? If we invest up front in Addiction and MentalHealth we can incarcerate less. cndpoli rexglacer Rehabilitation, meaning drug rehab, apprenticeship in trades, education and mental care. Incentives reduced sentence. Bla bla bla
Source: globeandmail - 🏆 5. / 92 Read more »