The forecasted value added of the wholesale, retail, and repair of motor vehicles and motorcycles sector in Canada shows a steady increase over the period from 2024 to 2028. Beginning at CAD 265.3 billion in 2024, this figure is anticipated to grow consistently to CAD 290.72 billion by 2028. For context, this marks an upward trend from the 2023 value of CAD 259 billion. The year-on-year growth rate from 2024 to 2028 averages at approximately 2.3%. Over the five-year period, the sector exhibits a compound annual growth rate (CAGR) of about 2.3%.

Future trends to watch for include:

The potential impact of technological advancements in automotive retail and repair, which could drive efficiency and service quality.
Shifts in consumer preferences towards sustainable and electric vehicles, which may influence repair and wholesale dynamics.
Macroeconomic factors such as exchange rates and trade agreements that could affect both import and export activities in this sector.