And we are definitely enjoying a rising economic tide that appears to be lifting all suppliers. In the US the industry average finance rate on retail car sales sank to 4.4% in March the lowest since 2002. We have seen a return to vehicle leases and incentives remain strong. The combination of rising employment rates in both Canada and the US and the winds of an economic recovery have resulted in strong vehicle sales in both the United States and Canada as well as in Mexico. This has continued...

which produces an outstanding product offering freedom, utility and passion to its global customers. However, recent events within our industry clearly remind us that every part of an organization, from the supplier through to the final production facility, plays an absolutely crucial role in assuring that only components of the highest possible quality and robustness are produced. For many suppliers, the ultimate nightmare is an issue where a component gets outside the supplier's facility and...

and it was especially positive that Ford announced a solid fourth-quarter profit and their first full-year profit since 2005. They were able to accomplish this based on a solid year-over-year sales gain. The strength of Ford is great news for all automotive parts suppliers. Ford also reported a return to profitability in Europe which shows that this is not just a regional recovery for Ford. As well, overall vehicle sales in January remained quite strong, starting the year off on a very positive...

Welcome to a New Decade and the new APMA…

  and hopefully to better times and greater prosperity within the Canadian automotive industry.

 2009 presented unprecedented challenges and economic turmoil like we have not experienced for a very long time within the automotive industry. However by the end of 2009 the signs were already very positive with sales in both US and Canada for the month of December continuing at very encouraging levels.  December sales in the United States, 1,030,096 vehicles,...

As I said at a recent conference in Windsor, our industry is improving, releases are up and we are slowly getting back to work. However, this will be a slow process and the "new normal" for North America will be several million units less than before the recession. Canadian suppliers have dramatically lowered their breakeven points at 50% lower volumes than before, not uncommon. This is a real accomplishment in our capital intensive industry.

This is not easy to do but you are not alone. APMA...

On the Friday before Labour Day, Industry Canada, Business Development Bank of Canada (BDC) and APMA announced the Purchase Order Financing Program (full details are in this newsletter). Under this program, BDC will finance short-term working capital on the basis of purchase orders and releases. This will allow suppliers to finance raw material purchases, etc. as the demand for their product increases, but before accounts receivables are created. Discussions on this financing began at the APMA...