General Motors of Canada will cut about 1,000 jobs at a truck plant in Oshawa, Ontario, in January amid slumping pick-up sales (http://www.reuters.com/article/ousiv/idUSN3039273720070830)
This news plus the strength of the CDN dollar is not good news for employment in Ontario.
2007-08-30, 11:10 AM
They need some new, attractive products. You can't rely on hiccup trucks and gas-guzzling SUVs forever, no matter what Buzz Hargrove may think.
2007-08-30, 12:39 PM
This could also be because of increased competition from Japanese trucks. I'm sure if the market for them turns around then the scheduled cutback may be cancelled.
2007-08-30, 11:18 PM
The analysts on the news were relating it all to the slowdown in the US, particularly the building trades. Truck sales there are way down, whereas they are actually up about 15% in Canada....but it doesn't matter, the majority of the Chevy and GMC pickup trucks produced at the Oshawa plant were headed to the US....
2007-08-31, 01:34 AM
I've heard the US sub-prime mortgage trouble and the higher CDN dollar being blamed, but no mention that the Japanese makers, especially Toyota is taking square aim at the US truck makers with good full size offerings including going head to head with the biggest like Silverado.