Canadian auto industry faces steep losses: report

Newswire

TORONTO, Nov 25 (Reuters) - Losses in Canada's auto manufacturing industry are expected to balloon to C$1.7 billion ($1.4 billion) this year due to collapsing sales in the U.S. market, the Conference Board of Canada said on Tuesday. This will be the third straight year of losses for the Canadian industry, and it is expected to lose more than C$1 billion in 2009, the board said in its twice-yearly outlook for auto manufacturing. "Canadian auto manufacturers remain caught in a maelstrom of ...

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