In 2023, the Cost of Goods Sold (COGS) for New Motor Vehicle Parts and Accessories Merchant Wholesalers in Canada was recorded at 22.0 billion CAD. Forecasted data for 2024 suggests a steady growth pattern in the COGS, rising to 22.284 billion CAD, with year-on-year increases averaging around 1.34%. The average compound annual growth rate (CAGR) from 2024 to 2028 is projected at 1.31%, indicating a consistent upward trend.

Future trends to watch for include:

Technological advancements in automotive parts manufacturing, which could impact production costs.
Fluctuations in raw material prices, potentially influencing COGS volatility.
Regulatory changes related to vehicle emissions and safety features, affecting parts demand and associated costs.