Toronto, Ontario — While the pandemic posed some serious challenges across the auto industry, the motor vehicle parts shipments have exceeded pre-pandemic figures by 12.5 percent; over $2 billion, according to a recent release from DesRosiers Automotive Consultants.
Similarly, while the motor vehicle assembly industry shipments remain behind 2019 figures, it is only by 4.3 percent, representing significant growth. This growth marks a recovery from previous 2019 falls of 44 percent and 34.4 percent, respectively.
Andrew King, Managing Partner at DAC, noted that while “auto-related shipments took more than their fair share of hits in recent years,” the “first half of 2023 brought significant growth indicating a strengthening automotive space.”
This growth is further complemented by growth in other key industries. Metalworking machinery manufacturing increased by 33.7 percent compared to 2019, with the motor vehicle body and trailer manufacturing industry seeing shipments grow by 49.4 percent.
With these upward trends and stronger performance, the industry is entering a period of transformational growth as it moves to BEV-focused assembly.
