The hits just keep on comin' : Canadian carmakers to lose $1.7 B this year

This just in:

Canada’s auto manufacturing sector is expected lose money for the third consecutive year in 2008, with losses ballooning to $1.7 billion this year, according to the Conference Board’s Canadian Industrial Outlook: Canada’s Motor Vehicle Manufacturing Industry.

“Canadian auto manufacturers remain caught in a maelstrom of cyclical and structural industry changes, a trend that is unlikely to improve until at least 2010,” said Sabrina Browarski, Economist.

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