The output of motor vehicles in Canada was valued at 115.61 Billion Canadian Dollars in 2023. In 2024, the forecasted output is 118.74 Billion Canadian Dollars, representing a year-on-year increase of 2.71%. For 2025, the forecast indicates a further rise to 122.81 Billion Canadian Dollars, marking a 3.42% increase from the previous year. The upward trend continues into 2026 with an expected value of 126.85 Billion Canadian Dollars, showing a 3.29% increase. By 2027, the output is forecasted to reach 130.85 Billion Canadian Dollars, a 3.16% increase, and in 2028, it is projected to be 134.8 Billion Canadian Dollars, reflecting a 3.01% increase. The Compound Annual Growth Rate (CAGR) over these five years is projected to be 3.12%.
Future trends to watch for include:
• Technological advancements driving production efficiency.
• Evolution and adaptation to electric vehicles impacting output.
• Geopolitical factors influencing trade policies and market demands.
• Sustainable practices gaining importance in manufacturing processes.
