The forecast for Canada's import of vehicles other than railway or tramway shows a steady increase from 2024 to 2028, with values rising from $81.148 billion in 2024 to $86.228 billion in 2028. As of 2023, the actual import value stood at $79 billion, indicating a gradual growth year-on-year. The year-on-year percentage increase over the forecast period is consistent, with an approximate annual growth rate of 1.5%. Over five years, the compound annual growth rate (CAGR) is projected to be around 1.5%, suggesting a stable upward trend.

Future trends to watch for include:

Impact of environmental regulations on import volumes, particularly for electric and hybrid vehicles.
Influence of global supply chain disruptions on import timelines and costs.
Shifts in consumer preferences towards sustainable and smart technologies in vehicles.
Currency exchange rate fluctuations affecting import values.