More bad news for Canadian stampers. One can expect roughly the same results south of the border, at least in proportion.
From Yahoo! Canada Finance
The Conference Board of Canada says auto parts makers will cut 37,000 jobs, or about one third of their workforce in Canada, as the North American industry undergoes massive restructuring.
The sector has been shedding jobs for years, but this year’s losses are expected to top the total of the last four years combined.
Ontario will be hard hit by the job losses since the province has most of the parts companies.
6 thoughts on “Auto parts makers to shed 37,000 jobs this year, Conference Board forecasts”
“Auto parts makers to shed 37,000 jobs this year”
Automobile industries will never be die off, the market demand will still heading upward. The current situation is only for temporary, a year or two later you will see the pick up in vehicle demand.
Only thing to worry is the cost, how can the automakers reduce their manufacturing cost is the key. If there isn’t any changes in costing structure and worker’s expectation, the market will definitely moves to other more competitive developing countries such as China, India or Thailand.
While Die Design makes some good points, I would add a few things to the mix.
North America does seem to be an automotive culture, at least for the moment. For the most part, automobiles rust. So this pause in the auto market is creating pent up demand which will be released sometime down the road.
There are, however, some big questions to be answered. Will North American manufacturers, parts suppliers, metal stampers get the work? Or have they been so successful in pricing themselves out of the marketplace that the rising tide will happen more offshore than onshore?
There is an attempt to bring more of this stuff back onshore, but will it succeed?
In the longer term, how healthy is our automotive culture anyways? I lived in Europe for 2 years and didn’t own a car. Didn’t need it. Public transportation is so much better there, a car was superfluous. Europe chose to invest more in railbeds and less in roadbeds. I believe sooner or later, we’re going to have to do that too. Yes, some things are different, the distances are bigger here, but in the Boston-New York-Washington corridor, say, there is so much density that high speed trains could cut down a lot on individual commuters in individual cars zooming up and down the highway. So maybe we need some kind of blended strategy where individual cars get smaller and more efficient, and we also use them less often. If we are going somewhere where lots of other people are going, we take the train instead.
Luckily, there are stamped metal parts in trains too!
I think automative factions can’t disappear because there always will be a need in auto parts or more.What is happening now will only be during for 1,2 years and then everything will go back as it was.
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You will not make 40 thousand dollars a year right out of high school. You won’t be a vice president with a car phone, until you earn both.
That would be great.There will be more industries as well as online shops that would sell car parts that are affordable and durable at the same time since there’s an increase of demands of car nowadays.