From 2023 to 2028, the forecast indicates a steady annual increase in the import of motor vehicles for the transport of persons to Canada. Starting at a base value in 2023, the projected imports rise from 31.354 billion USD in 2024, reaching 33.35 billion USD by 2028. This forecasted growth represents a consistent year-on-year increase, with a projected CAGR over the five-year period highlighting a robust upward trend in import volumes.

Future trends to watch for:

Impact of emerging electric vehicle technologies and sustainable transport policies on import preferences.
Influence of global supply chain dynamics and geopolitical factors on import volumes and pricing.
Shifts in consumer demand towards innovative or luxury transport solutions.