The per capita value for bodies for motor vehicles in Canada was recorded at $6.01 in 2023. Forecast data from 2024 to 2028 indicates a steady decline, with values dropping to $5.04 in 2025, $4.08 in 2026, $3.12 in 2027, and $2.17 in 2028. This represents significant year-on-year decreases in per capita value: 16.14% from 2024 to 2025, 19.05% from 2025 to 2026, 23.53% from 2026 to 2027, and 30.45% from 2027 to 2028.
The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 yields an average annual decline of approximately 22.65%.
Future trends to watch for include the impact of increasing electric vehicle adoption, advancements in vehicle manufacturing technology, and shifts in consumer preferences towards sustainable and efficient transport solutions. These factors may contribute further to the decline in value per capita or potentially stabilize the market once adaptation and technological efficiency improve.
