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Nov 8, 2017

Linamar misses profit estimates as NAFTA looms over auto sector

Linamar blames Q3 profit miss on decline in light vehicle parts demand

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Linamar, Canada's second-largest auto-parts maker, missed third-quarter profit expectations, as weakness in North American light vehicle demand hit the company’s bottom line.

Volumes in the North American light vehicle market fell 7.7 per cent in the quarter, and the company was hit by unfavourable currency exchange impacts.

The weak quarter comes at a sensitive time for the North American automotive sector, which has found itself in the crosshairs at the NAFTA negotiating table.

The U.S. Department of Commerce is pushing for a “Made in America” requirement of up to 50 per cent of every vehicle produced on the continent. Currently, there is a quota for overall NAFTA content in order to qualify as North American-made, but no country-by-country requirement.