Canada Used Car Market Size & Outlook, 2030

Revenue, 2024 (US$M)

$0.0

Forecast, 2030 (US$M)

$0.0

CAGR, 2025 - 2030

Report Coverage

Canada

Canada used car market, 2018-2030 (US$M)

Related Markets

Global Used Car Industry

North America Used Car Market Outlook

Europe Used Car Market Outlook

Asia Pacific Used Car Market Outlook

Latin America Used Car Market Outlook

MEA Used Car Market Outlook

Canada used car market highlights

The Canada used car market generated a revenue of USD 142,936.3 million in 2022 and is expected to reach USD 228,480.3 million by 2030.
The Canada market is expected to grow at a CAGR of 6% from 2023 to 2030.
In terms of segment, conventional was the largest revenue generating vehicle type in 2022.
Hybrid is the most lucrative vehicle type segment registering the fastest growth during the forecast period.

Used car market data book summary

Market revenue in 2022	USD 142,936.3 million
Market revenue in 2030	USD 228,480.3 million
Growth rate	6% (CAGR from 2022 to 2030)
Largest segment	Conventional
Fastest growing segment	Hybrid
Historical data	2018 - 2021
Base year	2022
Forecast period	2023 - 2030
Quantitative units	Revenue in USD million
Market segmentation	Hybrid, Conventional, Electric
Key market players worldwide	Alibaba Group Holding Ltd ADR, CarMax Inc, Asbury Automotive Group Inc, TrueCar Inc, Scout24 SE, Lithia Motors Inc Class A, Group 1 Automotive Inc, EBay Inc, AutoNation Inc, Hendrick Automotive Group

Other key industry trends

In terms of revenue, Canada accounted for 8.6% of the global used car market in 2022.
Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
In North America, U.S. used car market is projected to lead the regional market in terms of revenue in 2030.
Canada is the fastest growing regional market in North America and is projected to reach USD 228,480.3 million by 2030.

Key Regions: U.S. , UK , Japan , Brazil , Mexico

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Used Car Market Scope

Used car market segmentation & scope

Vehicle Type

Hybrid

Conventional

Electric

Vendor Type

Organized

Unorganized

Fuel Type

Diesel

Petrol

Others

Size

Compact

Mid-Sized

SUV

Sales Channel

Offline

Online

Regions

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

Countries

U.S.

Canada

Mexico

Germany

Spain

France

China

India

Japan

Brazil

Used Car Market Companies

Name	Profile	# Employees	HQ	Website

Canada used car market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to used car market will help companies and investors design strategic landscapes.

Conventional was the largest segment with a revenue share of 44% in 2024. Horizon Databook has segmented the Canada used car market based on hybrid, conventional, electric covering the revenue growth of each sub-segment from 2018 to 2030.

Canada used car market is expected to register 6.0% growth (CAGR) over the forecast period. Owing to the growing economy and per capita income in the Canadian market, consumers are opting for the more sophisticated mobility options.

Pricing leverage associated with the used cars has also become one of the prominent reasons for the significant growth in the market. Growing demand for multi-purpose vehicles in the country, rising gas prices, and wholesale vehicle price index are some of the prominent reasons that are expected to drive the demand for used SUVs in the country.

According to some of the prominent market players in the country, the used car market has shown mixed results after the pandemic. Digitalization in the used car industry has shown good momentum in sales and is expected to drive high volume traffic in the coming years.

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Target buyers of Canada used car market databook

Our clientele includes a mix of used car market companies, investment firms, advisory firms & academic institutions.
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada used car market, including forecasts for subscribers. This country databook contains high-level insights into Canada used car market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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