General Motors: Toyota

Canadian Motor Vehicle Manufacturers Dept: Canadian motor vehicle manufacturers are expected to swing to a collective profit of $1.5-billion this year, their highest level since 2002 and a complete reversal of the $1.5-billion they lost as recently as 2009, the board reports, according to Vancouver Sun. With General Motors, Chrysler, Ford and Japanese rivals, Toyota and Honda, ramping up production in the country, as long as automakers don't slide into price wars, moderating commodity prices and the weaker loonie will help continue to drive profitability this year and next, the board said and despite the uncertainty in the broader economy, Canadian auto sales are expected to return to their pre-recession levels this year driven by dealer incentives, accessible auto loans, high fuel prices and aging vehicles that need replacement, according to a report from the Conference Board of Canada. "The recovery of the auto industry is in full swing," said Michael Burt, the board's director of industrial economic trends. "An encouraging sign for the Canadian industry is that many of the best-selling models are assembled here." (www.immigrantscanada.com). As reported in the news.