Used Car Dealers in Canada
The Used Car Dealers industry in Canada has shifted gears and taken off at full speed over the five years to 2019. As economic conditions have improved and consumer spending has increased during the five-year period, consumers have released pent-up demand for big-ticket purchases such as automobiles. Industry profit margins have also expanded over the past five years, supported by higher average selling prices. Vehicle prices began to rise due to limited inventory. Times of economic struggles reduced fleet purchases and the number of leased vehicles, which caused a shortage in the one- to five-year-old used vehicles segment. Many of these positive trends are expected to continue over the five years to 2024. However, the overnight rate is expected to rise significantly in coming years, making vehicle financing more expensive and less desirable.
This industry sells used passenger vehicles, which includes cars, light trucks, sport utility vehicles and vans. Used car dealers also provide parts and repair services and 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.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook