Ottawa, Ontario – The Canadian Automobile Dealers Association (CADA) went to Parliament Hill last week to outline the need for an aggressive federal policy to aid the auto industry in Canada.
“The Canadian public and policymakers need to understand that the auto industry is really the engine of the entire country’s economy, and not just a single province,” said Richard Gauthier, CADA president and CEO. “As the largest contributor to Canada’s manufacturing Gross Domestic Product and responsible for one in seven jobs nationwide, the auto industry is crucial for our economic structure. While the debate thus far has largely focused on the effects of such support in places like Windsor and Oshawa, the issue of the enormous effect on the economy and country at large cannot be ignored.”
Gauthier said that if Canadian-based manufacturers are not provided a bridge across the current economic crisis, the country’s 3,500 small business dealers will bear the brunt of the downturn.
CADA also called on the government to consider measures to increase liquidity in the automotive marketplace, as dealers are increasingly facing harsh credit conditions as they seek to finance floor plans and operations.