The sales of new motor vehicle tires in non-store retailing in Canada is projected to decline gradually from 2024 to 2028. The value stands at CAD 21.8 million in 2024 and is forecasted to decrease slightly each year, reaching CAD 21.67 million by 2028. This reflects a compounded annual growth rate (CAGR) that is negative. Comparatively, sales have shown a stagnant to declining trend over the two-year historical period leading to 2023, with modest year-on-year variations.
Future trends to watch for include:
- Pace of e-commerce adoption affecting non-store sales growth.
- Impact of technological advancements in tire manufacturing.
- Changing regulations and consumer preferences towards sustainable products.
- Economic factors influencing consumer spending power on automotive products.
