Forecast: Motor Vehicle Merchant Wholesalers Operating Revenue in Canada

The operating revenue for Motor Vehicle Merchant Wholesalers in Canada grew significantly from 2013 to 2023, with actual data showing an increase from CAD 77.247 billion to CAD 146.78 billion. Notable year-on-year increases were seen in 2014 (10.05%), 2015 (12.48%), and especially in 2019 (19.25%). A sharp decrease occurred in 2020 (-20.41%) due to likely disruptions, but the sector rebounded in 2021 with a 10.95% increase, continuing to grow steadily in 2022 (16.56%) and 2023 (11.35%). The average annual growth rate (CAGR) for the last five years stood at 6.45% by 2023.

Forecasts from 2024 onwards indicate continued growth in operating revenue, with a forecasted value reaching CAD 192.19 billion by 2028. The average annual growth rate for the next five years is projected to be around 4.25%, suggesting a more moderate yet sustained upward trend.

Future trends to watch for include the impact of emerging technologies and innovations in the automotive sector, shifts in consumer preferences towards electric and autonomous vehicles, and potential economic factors or regulatory changes that could influence market dynamics. Monitoring these trends will be crucial for understanding the sector's long-term outlook.