Not surprisingly, officials from the Canadian and Ontario governments have followed the U.S. government's lead by officially rejecting the restructuring plans of General Motors and Chrysler. The Canadian officials said the automakers' current plans do not go far enough and will not be certified as they are. In fact, they're basically copying and pasting the new deal for automakers announced by the U.S. government today, saying that GM has 60 days to redo its plan while receiving a portion of the C$3 billion it requested and Chrysler has 30 days to finalize its partnership with Fiat while receiving C$250 million of the C$1 billion it requested.

According to The Detroit News, Canada's auto industry accounts for 14 percent of its manufacturing output and 23 percent of its manufacturing export, but the survival of GM and Chrysler in Canada is entirely dependent on their survival in the U.S. With that in mind, it would have been pointless had the Canadian government responded to the automakers' restructuring plans in any other way than exactly the same as the U.S. government.

[Source: The Detroit News, Photo by jimmywayne22 | CC2.0]



I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.


    • 1 Second Ago
  • From Our Partners

    You May Like
    Links by Zergnet
    Share This Photo X