Canada is one of the top distributors for automobiles with a well-equipped automobile and auto-parts manufacturing facilities as well as a very effective distribution system. The Canadian market is considered to be the second largest market for automobiles,representing the second largest automotive market in North America. Considering the overall increase in demand for automotive, the total imports of cars and car parts accounted for almost CAD 90 billion and total production within Canada contributed CAD 110 billion approximately to the GDP. Similarly tyres industry also plays its role in increasing the GDP of the country.The imports for auto parts and tyres totaled CAD 60 billion showing significance of the industry’s largest sub-sector.
Auto Parts Industry in Canada
The Canada parts manufacturing industry generates around 9 billion revenue and employs over 13,000 workers. With an annual growth of 10%, over the years, the Auto Parts Manufacturing Industry in Canada has substantially expanded. Tyre industry is growing in the same manner. Almost 9,000 people are linked with this industry. The growing demand of tyres in the world is forcing this industry to expand this business to fulfill the needs.The main reason for expansion is the growing demand of automobiles, and the subsequent growth of automakers leading to extended range of car variants. The parts industry is directly affected by the change in automobile demands. If the demand for cars spikes amongst the users, the car manufacturers order more supplies from auto parts manufacturers. It is expected that after five years until 2023, revenues generated from auto parts sales will increase considerably.
Competition in Market
With a number of key players in the automobile industry, and even a three-fold increase in auto part manufacturers, the industry is one of the most competitive industries in Canada. The need of being able to focus on better designs, new technology, reduce energy cost, and better environmental friendly materials is the key to success in this industry. Moreover due to design of cars and motorbikes, the tyre design also matters and this industry is focusing on innovative models and designs. However, there is also a high rise in marketing and advertising budget with the arrival of more manufacturers in the industry. The control in costs is an essential game-changer in the industry. In order to boost sales and effectively increase public awareness, most of the companies have shifted their marketing efforts from traditional media to the internet. With the help of the internet, availability, cost, and quality of a car component is most easily distinguished and expert opinions are also made which have a substantial effect on the company’s profile.
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