Used Car Dealers in Canada - Industry Market Research Report

Off the lot: Some operators will forgo significant expansion in favour of increasing inventory

Used car dealers in Canada have performed well in recent years, especially as they rebounded strongly from the COVID-19 pandemic. Save for 2020, economic conditions have been strong, with consumer spending increasing along with demand for big-ticket purchases, including automobiles. Lingering uncertainty, high levels of per capita debt and supply chain issues have also encouraged many consumers to purchase relatively affordable used cars, instead of investing in new vehicles. Revenue is estimated to increase at a CAGR of 2.0% to $17.4 billion over the five years to 2023. This includes a projected increase of 1.7% in 2023 alone as supply chains and interest rates continue to normalize following the pandemic. The Used Car Dealers industry in Canada 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.