CANADIAN AUTO DEALERS LOOKING OUT FOR INCREASED PRESSURE ON PRICES AS USMCA DEAL BEDS IN
October 2nd, 2020
CANADIAN automobile dealers are looking out for a potential increase in the price of vehicles that they sell on account of the United States-Mexico-Canada Agreement (USMCA), which came into force on July 1 (2020).
This is likely to be fuelled by the new deal insisting that Canadian (as well as American and Mexican) auto-manufacturers may have to increase their USMCA-bloc sourcing to ensure that 75% of a vehicle's parts are made a signatory country. This is up from the previous 62.5% under the old North American Free Trade Agreement (NAFTA); and that 40%-45% of ...
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