The Canadian Press reports that the Big Three Canadian car makers’ share of the new vehicle market is shrinking fast as ScotiaBank figures showed that foreign-based manufacturers captured a record 45% last month.
As recently as the mid-1990s, the Big Three had 75% of the Canadian market but ScotiaBank says European makers are eating away at the domestics’ share of the high-end market.
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It adds South Korean manufacturers are doing the same at the bottom end of the price range.
ScotiaBank says GM, Ford, and Chrysler are in danger of losing even more market share over the next five years as foreign makers are scheduled to release twice as many new models as the Big Three, the report said.
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