Motor vehicle and parts subsectors saw a 1.9% drop in sales.
Wholesale sales fell by 0.8% in June, a decline that was in large part due to the fall in sales in the motor vehicle and parts subsectors. Those sectors fell by 1.9%.
According to BNN Bloomberg, “The miscellaneous subsector fell 2.2 per cent to $8.2 billion on lower sales in the agricultural supplies industry. Overall, Statistics Canada says sales were down in five of the seven subsectors tracked, accounting for 71 per cent of total wholesale sales.”
Canada’s auto industry and auto parts manufacturers face serious potential trade threats, as our deteriorating relationship with the United States raises the possibility of U.S. tariffs on our auto sector, even as the U.S. and Mexico near a deal on those same issues.
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