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Canada offers help auto sector

Canada offers help auto sector

The Canadian government is providing additional help to the country's auto industry and to people who buy cars from General Motors or Chrysler while they restructure.
Industry Minister Tony Clement said Tuesday $700 million Canadian ($565 million) will be provided to help auto parts suppliers.
Canada will also help consumers by backstopping auto warranties in the event that a carmaker fails. He said the warranty matches what the U.S. has announced.
Both the U.S. and Canadian governments are awaiting new restructuring plans from GM and Chrysler before approving more bailout money for the struggling companies. Clement said GM and Chrysler must present plans that maintain the 20 percent Canadian share of production.


Updated : 2021-10-18 00:17 GMT+08:00