The data shows a steady increase in the opening inventories of automobile and light-duty motor vehicle manufacturing in Canada from 2024 to 2028:
- 2024: 2.0527 billion CAD
- 2025: 2.1406 billion CAD (4.28% increase year-on-year)
- 2026: 2.2277 billion CAD (4.07% increase year-on-year)
- 2027: 2.3138 billion CAD (3.87% increase year-on-year)
- 2028: 2.3991 billion CAD (3.68% increase year-on-year)
The Compound Annual Growth Rate (CAGR) for the period from 2024 to 2028 is approximately 3.97%.
Future Trends to Watch: Going forward, it will be important to monitor the impact of emerging technologies such as electric vehicle (EV) advancements, supply chain shifts, and regulatory changes. These factors could significantly influence inventory levels and overall market dynamics.