The import of automobiles with spark-ignition internal combustion reciprocating piston engines exceeding 3000 CC into Canada is forecasted to grow steadily from 2024 to 2028. In 2023, the value stood at an estimated $9.8 billion USD. From 2024 to 2028, there's a marginal increase each year, suggesting a compound annual growth rate (CAGR) over five years of approximately 0.73%. Year-on-year variations indicate a consistent increase of about 0.97% annually.
Future trends to watch for:
- Shifts in consumer preference towards electric vehicles which could impact the demand for large-engined petrol vehicles.
- Potential trade agreements or tariffs affecting import policies and costs.
- Technological advancements in hybrid engines or improvements in fuel efficiency impacting imports.