The forecasted first registrations of brand new goods vehicles in Canada from 2024 to 2028 show a downward trend. Starting from 21.0 units per thousand USD GDP in both 2024 and 2025, the registrations are projected to decrease to 20.0 in 2026, and further decline to 19.0 in both 2027 and 2028. This reflects a year-on-year decrease from 2025 onwards, primarily driven by economic uncertainties and potential shifts in transportation policies. Comparatively, in 2023, the actual registration value stood at a higher level, indicating a contraction in growth prospects for goods vehicle registrations through this forecast period.
Future trends to watch for:
- Technological advancements in goods vehicles, particularly electric vehicles, could potentially influence registration rates.
- Changes in economic conditions and government policies may impact both demand and regulatory frameworks for new registrations.
- Emerging trends in shared logistics and increased freight demands could alter the dynamics of vehicle registrations in Canada.
