Canada likely to increase its footprint in the automotive sector

The rate of technological advancement in automobiles in Canada has risen dramatically in recent years, with electronics becoming a more integral part of each new generation of vehicles. This is a trend that is set to continue in the coming years.

This presents significant opportunities, not just for traditional automakers, but for suppliers as well as engineering and communications firms to develop new products for automobiles that will meet these goals.

TD Economics notes in a report on Monday:

• Given its highly skilled labour force and growing high-tech industry, Canada is well-positioned to take advantage of this changing vehicle landscape.  
  
  
• While much of the focus on Canada's auto sector recently has been on its inability to attract assembly production into the country, developing new technologies for vehicles could help to increase its footprint in the automotive sector.