The motor vehicle parts manufacturing closing inventories in Canada have shown an upward trend from 2013 to 2023, increasing from 1.48 to 2.73 billion Canadian Dollars. Notably, the highest annual growth was observed in 2015 with a 20.75% increase, while 2020 experienced a significant drop of 7.3% due to external uncertainties. From 2022 to 2023, a moderate increase of 4.02% was reported. Looking at the long-term, the inventory value has seen a Compound Annual Growth Rate (CAGR) of 2.99% over the last 5 years. Forecasts suggest continued growth at a CAGR of 2.7%, reaching approximately 3.24 billion Canadian Dollars by 2028.

Future trends to watch for include:

The impact of evolving supply chain dynamics post-pandemic.
Shifts towards electric vehicles (EV) and associated parts manufacturing.
Technological advancements in manufacturing processes.
Potential trade policy changes influencing cross-border parts manufacturing and inventory levels.