Deputy Prime Minister Chrystria Freeland bluntly told the roughly 300 executives in attendance at the Automotive Parts Manufacturers' Association that “our economy will slow.” Auto execs appreciated the tone, but insist they're in a good spot.
Despite Canada’s deputy prime minister warning auto suppliers of gathering economic storm clouds, some listening to her speak at the 2022 Automotive Parts manufacturers’ Association Conference on Wednesday thought she was a breath of fresh air.
“I think it’s refreshing. We need some real talk. I like that she does real talk,” said Flavio Volpe, who, as president of the association represents and lobbies governments on behalf of hundreds of Canadian suppliers. “The view is grim, but I think what she was giving us was a view at a macro level.
“This is a challenging global environment. We’re seeing a lot of big forces at work in the global economy and Canada is definitely subject to them,” Freeland told reporters later in the day.“I thought it was important for her to be candid. And she was definitely that,” Wark said. “And the folks in our research department are coming up with a similar view.
Automakers continue to cut output on a weekly basis. Chip supply ebbs and flows seemingly without rhyme or reason.
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