The Value Added of Motor Vehicles and Motorcycles Wholesale, Retail Trade, and Repair in Canada is expected to grow from 253.0 billion CAD in 2024 to 273.48 billion CAD in 2028. This forecast shows a steady annual growth trend from 2024 onwards. Based on historical trends, the value stood at approximately 248 billion CAD in 2023.
Year-on-year variations reveal consistent growth, with average annual increases projected. The compound annual growth rate (CAGR) calculated over the five-year period from 2024 to 2028 reflects this positive trajectory.
Future trends to watch for include:
- The impact of electric vehicle adoption on repair and maintenance segments.
- Shifts in consumer preferences towards new mobility solutions like car-sharing impacting retail strategies.
- Technological advancements influencing the wholesale and retail landscapes.
