In 2024, the forecast for the ownership of goods road motor vehicles in Canada stands at 15.63 units per thousand persons. This reflects a consistent downward trend from the actual 2023 data, continuing through 2028 to reach 5.54 units. The year-on-year analysis shows significant declines, with the most notable drop between 2025 and 2026. The compound annual growth rate (CAGR) over the five-year forecast period indicates a rapid annual decrease in vehicle ownership.

Future trends to watch:

Increasing adoption of alternative transportation, possibly driven by environmental policies or shifts in consumer preferences.
Technological advancements in electric and autonomous vehicles potentially influencing ownership patterns.
Economic factors, such as fuel prices and economic growth, that may further impact road vehicle ownership.