The forecast for the self-employed individuals in the wholesale, retail, and repair of motor vehicles and motorcycles sector in Canada shows a very gradual decline from 2024 to 2028. Starting at 114.84 thousand persons in 2024, this number is expected to decrease modestly to 114.25 thousand persons by 2028. Though variations are small, this suggests a slightly downward trend in the sector's self-employment opportunities over the next five years.
Compared to the actual data from 2023, there is a consistently minor annual decrease with a compound annual growth rate (CAGR) indicating a very slight negative growth over the forecast period.
Future trends to watch for:
- Impact of evolving automotive technologies and their influence on the sector’s employment dynamics.
- Economic factors such as consumer spending and regulation changes which may affect market conditions.
- Sectoral shifts towards more sustainable and electric vehicle demand creating new opportunities.
