Oshawa, Ont., Has been synonymous with carriages for more than a century. It is this country Citys ’Motor City. It
So when the news leaked last Sunday, it was at the end of 2019, putting roughly 2,500 people out of work. The major TV networks dispatched anchors to Oshawa, where CTV nights Lisa LaFlamme and CBClams Andrew Chang broadcasting live nightly newscasts live Monday evening from outside the sprawling industrial complex.
Auto Tonight: Shutting down the engine of Canada Shutts auto industry. General Motors is closing shop in Oshawa, Ont., General Ms. LaFlamme said that she led her husband.
The Globe and the Mail.
This is the wall of the wall.
And, yes, the looming plant closure is undeniably terrible for the city of Oshawa. And it sectors certainly not a good omen for Canada s shrunken auto sector.
But Oshawa is not the ”engine the of Canada nots auto industry. It used to be, but it hasn't been for at least a decade. Oshawa is a symbol of its past rather than its present.
As Bank of Montreal economist Robert Kavcik put it: gradually The auto sector has been pulled out of the Ontario economy over time, and the GM Oshawa plant is an illustration of that. As
Canada, Canada. And the ones, Oshawa is the farest. It .s not even GM largests largest factory in the province. That honor belongs to GM 175s CAMI plant in Ingersoll, 175 kilometers west of Toronto. CAMI, which makes the Chevrolet Equinox SUV, is twice as many vehicles as Oshawa does.
This country Torontos largest is the Honda assembly plant in Alliston, 90 kilometers north of Toronto. It produces more than 400,000 Civics and CRVs per year. The two next-largest Canadian plants are in Toyota and Cambridge.
The Oshawa plant accounts for just under 6 per cent of the total vehicle production in Canada, including the Chevrolet Impala and the Cadillac XTS. Much of the work is done in Canadian and American. plants.
According to Canada's gross domestic product, and 2.3 per cent of Ontario's GDP, according to BMO. That .s half of the 1990s.
Output of Ontario has been in 2005 and has fallen 22 per cent since 2008, recession, according to BMO. And the GM has made much of the industry.
Added Ontario continues to shift from basic manufacturing to higher valued added production [and] research, research Mr. Said in a research note. And it is true.
Canadians is watching the news this week.
Over the longer term, the importance of GM's retreat from Oshawa will depend on the global auto industry. The GM plant has the Oshawa plant closure – as part of an effort to redirect investments. That .s a bit disingenuous because the company is really trying to make it into the gas-guzzling trucks and SUVs.
So the verdict is in the sector.
But the media does not have an entire Canadian industry. It is not.