Used Car Dealers in Canada
The Used Car Dealers industry has shifted gears and taken off at full speed over the five years to 2017. As economic conditions improved and consumer spending began to rise over the period, consumers released pent-up demand for big-ticket purchases, such as automobiles. Moreover, consumers, still wary of the economic climate, increasingly opted to purchase used vehicles over new ones, helping to boost industry sales. Consequently, this renewed demand has driven industry revenue to grow. These trends are expected to continue over the five years to 2022. However, the overnight rate is expected to rise over the next five years, making vehicle financing more expensive and therefore, less desirable. As a result, demand for used vehicles is expected to slow during the period. Consequently, industry revenue is projected to grow at a slower rate than during the previous five-year period.
This industry sells used passenger vehicles, including cars, light trucks, sports utility vehicles and vans. Used car dealers also provide parts and repair services, as well as financing and insurance.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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