Based on the forecasted motor vehicle manufacturing expenses in Canada, the expenses are expected to increase from CAD 63.187 billion in 2024 to CAD 65.067 billion in 2028. This demonstrates a steady year-on-year growth: 0.75% in 2025, 0.74% in 2026, 0.73% in 2027, and 0.72% in 2028. Comparing to the actual data from 2023, where expenses stood at CAD 62.718 billion, there’s an anticipated average annual growth rate (CAGR) of approximately 0.98% over the forecast period.

Future trends to watch for:

Technological advancements in electric vehicles (EVs) and autonomous driving.
Shifts in consumer demand toward more sustainable and environmentally friendly vehicles.
Global supply chain disruptions and geopolitical uncertainties.
Policy changes impacting carbon emissions and automotive regulations.