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Used Car Dealers in Canada: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Used Car Dealers in Canada Market Research Report | NAICS 44112CA | Feb 2017

Revved up: Rising demand for used vehicles will continue to drive growth prospects

IBISWorld’s Used Car Dealers market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$9bn
Annual Growth 12-17
6.7%
Annual Growth 17-22
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Profit
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Employment
20,661
Businesses
7,952
Industry Analysis & Industry Trends

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... purchase to read more

Industry Report - Starting a New Business Chapter

Barriers to entry in the Used Car Dealers industry are moderate. Barriers include high competition levels and start-up costs. The industry is highly fragmented, with just one company holding a significant market share of more than 5.0%. This low concentration leads to high competition that is often based on price and can make it difficult for new entrants to generate a high profit margin.

Dealers entering the industry encounter significant capital costs; industry operators must make large, up-front investments in inventory purchases and dealership lots. New entrants also need to be aware of the appropriate value and demand for used vehicles to avoid holding obsolete inventory.

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Industry ProductsRelated ReportsTable of Contents

What is the Used Car Dealers Industry?

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.

Industry Products
Used vehiclesParts and servicesFinancing and insurance
 
Industry Activities
Selling used carsSelling used light trucksWholesaling used vehiclesOffering vehicle financing


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