National 10% surtax on luxury vehicles tops post-election concerns

Sources tell the Associated Press that a new U.S.-Mexico-Canada trade deal has been reached among U.S. politicians. Details on the deal still need to be finalized and the U.S. Trade Representative will need to submit the implementing legislation to Congress. No vote has been scheduled.

Unifor, the union representing hourly employees at the historic plant, had expected assembly to continue to Dec. 19 but said it now has been told production will end Dec. 17.

The United States, Mexico and Canada are discussing the fine print of the agreement that requires 70 per cent of steel and aluminum in vehicles to come from the continent in order to receive duty-free treatment.

A slow launch and early production glitches contributed to a decline of about 50 per cent, Dean Stoneley explains.

General Motors and LG Chem will invest a combined US$2.3 billion to mass produce battery cells in northeast Ohio, near its former Lordstown assembly plant.

As the new president of Toyota Motor Manufacturing Canada, Frank Voss will be responsible for all production and administrative functions at the manufacturing facility, which produces the Toyota RAV4, RAV4 Hybrid, Lexus RX 350, and RX 450h. Fred Volf has decided to retire after 32 years with Toyota.

Canadian billionaire and Formula One team owner Lawrence Stroll's consortium aims to take advantage of Aston Martin's low stock price to take a controlling stake in the U.K. sports-car maker, British motoring magazine Autocar reported.

A spokeswoman for Cadillac Canada says the company is not sure how long Hossein Hassani will continue to be on a personal leave, which began in May. Shane Peever has led the brand since then.

While some mobility startups have struggled this year, self-driving shuttle provider May Mobility, which has Canadian supplier Magna International as a partner, continues to attract capital, with US$83.6 million raised since its 2017 founding.

The global auto industry will produce 88.8 million cars and light trucks this year, an almost six per cent drop from a year ago, according to researcher IHS Markit. In Canada, GM, Ford and FCA plan to eliminate production jobs this year or next.