Last modification: 2 juil 23

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


Population 39 million

approximately 82% live in urban areas


2021 population 1.15 million (1.46mn, metropolitan region)


Major cities

Toronto (Ontario) pop. 6.47 million
Montréal (Quebec) 4.32mn
Vancouver (British Columbia) 2.69mn
Calgary (Alberta) 1.51mn
Edmonto (Alberta) 1.45mn


Two official languages
English (approx. 59% speak)
French (approx. 22% speak)


estimated at US$2.1 trillion 
US$53,850 per capita (nominal)

Unemployment rate

3.9% (December 2022)

source: Trading Economics

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


Canadian Dollar

CAD $1.00 = USD $0.80 (April, 2021)

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.

Its's Legislative branch consists of a bicameral Parliament or Parlement which entails the Senate or Senat (105 seats) and the House of Commons or Chambre des Communes (338 seats). Meanwhile, its Judicial branch consists of the Supreme Court of Canada (chief justice and 8 judges).


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.


New vehicle registrations (Cars, LCV, Trucks)

2022 Registrations
1.48 million vehicles (-9.2% year-over-year)

Top 5 brands (total market)

2022 Registrations

1. Ford (232,709 units) down 1%
2. Toyota (175,181 units) down 12%
3. Cheverolet (114,436 units) up 5%
4. Hyundai (112,559 units) down 11%
5. Honda (91,882 units) down 30%


Model preference top 5 (total market)

2022 Registrations

1. Ford F-Series 
2. RAM pickup 
3. Toyota RAV 4 
4. GMC Sierra
5. Cheverolet Silverado 

  • All of Canada's best-selling vehicles are pickups excetp for the Toyota RAV 4 (SUV)
  • The Ford F-Series pickups have lead the market in Canada for more than 42 years 

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
273,584 units (17% of total sales) mostly in Ontario which reported 105,683 units

  • light trucks 219,262 units, mainly large pickups (36%) and compacy SUVs (26%)
  • cars 54,322 units, mainly compact cars (53%) and intermediate (24%)

source: Fleet Business

Evolution fleet sales (last 5 years)

In 2021, light & heavy commercial vehicles sales rose 9% to 1.38mn from 1.27mn (source: OICA)
2020: 1.27mn units
2019: 1.48mn units

2021 Registrations
273,584 units (+5% year-over-year)

2020 (260,366 units)
2019 (413,629 units)
2018 (413,212 units)
2017 (405,217 units)

source: Fleet Business

Top 5 fleet brands (fleet market)

2021 Registrations

Light Trucks

1. Ford (33% market share)
2. GM (20%)
3. FCA (14%)
4. Toyota (7%)
5. Hyundai (5%)

1. Toyota (22% market share)
2. Volkswagen (14%)
3. Hyundai (13%)
4. Kia (12%)
5. Honda (7%)

source: Fleet Business

Fleet Model preference top 5 (fleet market)

2021 Registrations

1. Ford F-150  (23,836 units)
2. Ford F-350 (8,550 units)
3. Chevy Silverado 1500 (7,611)
4. Ford Escape (7,192)
5. Ford Transit T250 (6,968)
Fleet Type: Coporate Commercial 64%; Rental 30%; Government 6%
Fuel Type: Gasoline 81%; Diesel 8.5%;  Flex Fuel 5.9%; Hybrid 4%; Electric 0.6%  

1. Toyota Corolla (7,184 units)
2. Hyundai Elantra (5,310)
3. Toyota Camry (3,943)
4. Volkswagen Jetta (3,841)
5. Honda Civic (3,105)
Fleet Type: Rental 60%; Corporate Commercial 37%; Government 2%
Fuel Type: Gasoline 89.6%; Hybrid 4.3%; Flex Fuel 3.85%; Electric 2.2%; Fuel Cell 0.05%

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. 

Chapter 6: Funding methods

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Chapter 7: Fuel

In 2020, most of Canada's 216,822 light trucks sold were running on Gasoline (80.9%), followed by Diesel (7.95%), Flex Fuel (9%), Hybrid (2%), and Electric (0.02%)
In 2020, most of Canada's 43,544 cars sold in 2020 were running on Gasoline (85%), followed by Hybrid (7.8%), Flex Fuel (3.1%), Electric (4.1%), Diesel (0.03%), and Fuel Cell (0.01%)

May 16, 2022
Average gasoline price per liter: US$1.68 (world average is US$1.36)
Average diesel price per liter: US$1.78 (world average is US$1.32)

September, 2021
Average electricity price per kWh Households: US$0.12 (world average is US$0.13)
Average electricity price per kWh Business: US$0.10 (world average is US$0.13)


Chapter 8 : TCO components

When considering the outlook on TCO parity, Electric Vehicles are becoming a more feasible option for an incremental number of fleets today, especially in light of vehicle range improvements. 

Chapter 9: Safety, insurance and telematics

In 1Q21, US automaker Ford announced a recall on certain years of its Escape SUV and F series pickups in Canada following a defect notification filed by its supplier, Continental Tire of America. See more here...

Chapter 10: Environment

In North America (both Canada and the Unites States), there is a marked increase in client interest in battery-electric vehicles, largely driven by corporate sustainability goals.
EV adaption is lower in North America than in Europe, largely due to lower fuel costs and regulation. Still, increased vehicle availability, lower purchase prices, the outlook on TCO parity, growing range and legislative pressure make EVs a feasible option for an increasing number of fleets.

Many fleets in North America have indeed joined the EV100 initiative which strives to reach 100% EV and/or PHEV by 2030.

Financial incentives for EVs typically vary significantly across both the US and Canada. While numerous government incentives do exist, they are often tailored to individual consumers rather than large corporations. Fleet management and leasing companies can assist clients in identifying and taking advantage of applicable grant and incentive programmes to ensure the most cost-effective means to adopt EVs.

Source: Comments from representatives of Wheels, Element and ARI

Meanwhile, the province of Quebec intends on electrifying most of its provincial fleet of light vehicles by 2030, being 100% of its cars, vans and SUVs, and 25% of its pickups.

On a national level, the Canadian government has decided that all new passenger cars and vans sold in Canada need to be zero-emission by 2035. The move is part of a wider strategy to reach carbon-neutrality, which also includes raising the carbon tax. The aim is to reduce greenhouse gas emissions by 32 to 40% by 2030 compared to 2005 levels.

In 2020, around 4% of all new vehicles sold were electric, according to the Canadian Statistics Office.

Chapter 11: Mobility

As of 4Q20, Mobility-as-a-Service (MaaS) provider Moovit is partnering with First Transit, the largest private mobility provider in North America. This is First Transit’s first partnership with a MaaS provider. It will allow the company to use Moovit’s MaaS solutions and help simplify mobility for millions of commuters across the U.S. and Canada. 

Chapter 12: Key trends to watch