07:52:29 EST Fri 06 Nov 2026
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Toyota CDR (CAD Hedged)
Symbol TOYM
Shares Issued 150,000
Close 2026-11-05 C$ 12.40
Market Cap C$ 1,860,000
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Globe says Democratic win offers hope for Honda, rivals

2026-11-06 06:36 ET - In the News

See In the News (C-HNDA) Honda CDR (CAD Hedged)

The Globe and Mail reports in its Friday, Nov. 6, edition that the Democrat victory in the midterm elections may benefit the Canadian auto industry. The Globe's Eric Atkins writes that President Donald Trump's protectionist trade policies have harmed Canada's auto sector, facing 25-per-cent tariffs to export to the United States. Mr. Trump's decision to cut electric vehicle incentives hurt U.S. sales and led Canadian companies to cancel or delay billions in projects for the U.S. market. The midterm elections gave Democrats majorities in the Senate and House, raising hopes that Mr. Trump's policies can be reversed or mitigated despite his veto powers. Eliminating the subsidies helped send U.S. EV sales down by 45 per cent in the fourth quarter of 2025, from a year earlier. EV sales in the U.S. were 10 per cent of the overall market in 2025, compared with 11 per cent in Canada. U.S. automakers faced slowing demand, leading to billions in writedowns and the cancellation or postponement of several Canadian EV projects by Honda, Ford and Volkswagen. This disrupted Canadian government plans for a domestic EV supply chain aimed at utilizing the country's critical minerals and skilled work force for zero-emission cars.

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