
Canada
Canada is a federal parliamentary democracy which is headed by Prime Minister Justin Pierre James Trudeau. Although having more than 9 billion square kilimeters of land area, it has population of less than 38 million. The country has achieved strong growth since World War II by combining abundant natural resources, a highly skilled labor force, and modern capital stock with close economic ties to the US.
Chapter 1: Economic and business environment
Demographics | 2022 |
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Capital | Ottawa |
Major cities | Toronto (Ontario) pop. 6.47 million |
Languages | Two official languages |
GDP | 2022 |
Unemployment rate | 3.9% (December 2022) |
Main industries | Natural Resources: bauxite, iron ore, nickel, zinc, copper, gold, lead, rare earth elements, molybdenum, potash, diamonds, silver, fish, timber, wildlife, coal, petroleum, natural gas, hydropower |
Currency | Canadian Dollar |
Interest rate | 4.25% (December 2022) |
Political key info | Headed by Prime Minister Justin Pierre James Trudeau, Canada is a federal parliamentary democracy (Parliament of Canada) under a constitutional monarchy - a Commonwealth realm - with federal and state authorities and responsibilities regulated in constitution. |
Inflation | 6.3% (December 2022) |
Chapter 2 : Automotive market, segments & sales
Total Car park | With approximately 670 vehicles per 1,000 people, Canada has a total car park of some 26 million.
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New vehicle registrations (Cars, LCV, Trucks) | 2022 Registrations |
Top 5 brands (total market) | 2022 Registrations source: Driving.ca |
Model preference top 5 (total market) | 2022 Registrations
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Chapter 3: Company car market
Total Fleet Park (company cars)/Fleet penetration in total fleet sales | The total fleet park is approximately 1.82 million light vehicles (2022). 2021 Registrations
source: Fleet Business |
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Evolution fleet sales (last 5 years) | In 2021, light & heavy commercial vehicles sales rose 9% to 1.38mn from 1.27mn (source: OICA) 2021 Registrations 2020 (260,366 units) source: Fleet Business |
Top 5 fleet brands (fleet market) | 2021 Registrations source: Fleet Business |
Fleet Model preference top 5 (fleet market) | 2021 Registrations source: Fleet Business |
Chapter 4: Taxation & legislation
To further push its shift to electric vehicles (EVs) and reduce greenhouse gas emissions, the Canadian province of Quebec will ban the sale of new gasoline-powered passenger cars as of 2035. The province, which has a five-year (2021-26) plan of CAD $6.7 billion (US$5.1bn) to cut greenhouse gases by 37.5% in 2030 compared to 1990, seeks to have 1.5 million EVs on Quebec roads by 2030.
Quebec will also renew the rebates on the purchase or rental of EVs and charging stations for citizens. As of 4Q20, individuals, businesses, organizations, and municipalities receive a rebate of up to US$6,100 (approximately CAD $8,000) on the purchase or lease of a new electric vehicle.
Chapter 5: Car policies
Altough Electric Vehicle adaption is lower in North America than in Europe, there has recently been a marked increase in client interest in battery-electric vehicles, largely driven by corporate sustainability goals, according to comments from representatives of Wheels, Element and ARI in early 2021.