In 2023, the Gross Value Added (GVA) for the Wholesale, Retail, and Repair of Motor Vehicles and Motorcycles in Canada stood at 245.0 billion Canadian dollars. Forecasts for 2024 to 2028 indicate a steady year-on-year GVA increase: 2024 (2.1%), 2025 (2.1%), 2026 (2.0%), 2027 (2.0%), and 2028 (1.9%). This suggests a compound annual growth rate (CAGR) of roughly 2% over the five-year forecast period.

Future trends to watch for:

Increased adoption of electric vehicles impacting sales channels and repair services.
Digital transformation in retail operations, such as online vehicle sales growth.
Potential regulatory changes affecting the automotive industry.