Canada - Trucks - Market Analysis, Forecast, Size, Trends and Insights
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View PricingDecrease in Imported Trucks in Canada Drops Slightly to $1.2B in December 2023
Canada Truck Imports
In December 2023, truck imports into Canada dropped markedly to 30K units, waning by -19.5% against November 2023 figures. In general, imports saw a mild descent. The most prominent rate of growth was recorded in June 2023 with an increase of 29% month-to-month. Imports peaked at 51K units in September 2023; however, from October 2023 to December 2023, imports stood at a somewhat lower figure.
In value terms, truck imports declined to $1.2B (IndexBox estimates) in December 2023. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 with an increase of 26% month-to-month. Imports peaked at 1.9B units in September 2023; however, from October 2023 to December 2023, imports failed to regain momentum.
| COUNTRY | Import Value of Truck in Canada (million USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 | Oct 2023 | Nov 2023 | Dec 2023 | |
| United States | 888 | 861 | 856 | 1,086 | 1,097 | 1,019 | 1,359 | 1,417 | 1,478 | 1,572 | 1,298 | 1,008 | 805 |
| Mexico | 209 | 298 | 257 | 307 | 230 | 353 | 292 | 318 | 271 | 335 | 359 | 341 | 355 |
| Germany | 15.6 | 19.2 | 12.2 | 33.7 | 8.1 | 34.5 | 61.2 | 26.7 | 12.9 | 24.0 | 38.5 | 18.9 | 42.2 |
| Others | 7.5 | 15.2 | 13.0 | 10.9 | 31.4 | 13.0 | 16.0 | 18.5 | 12.6 | 14.0 | 12.6 | 10.2 | 17.6 |
| Total | 1,120 | 1,193 | 1,138 | 1,438 | 1,367 | 1,420 | 1,728 | 1,780 | 1,774 | 1,945 | 1,708 | 1,378 | 1,220 |
Imports by Country
In December 2023, the United States (19K units) constituted the largest supplier of truck to Canada, with a 64% share of total imports. Moreover, truck imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (9.2K units), twofold.
From December 2022 to December 2023, the average monthly growth rate of volume from the United States stood at -2.8%. The remaining supplying countries recorded the following average monthly rates of imports growth: Mexico (+3.1% per month) and Germany (+7.9% per month).
In value terms, the United States ($805M) constituted the largest supplier of truck to Canada, comprising 66% of total imports. The second position in the ranking was held by Mexico ($355M), with a 29% share of total imports.
From December 2022 to December 2023, the average monthly growth rate of value from the United States was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Mexico (+4.5% per month) and Germany (+8.7% per month).
Imports by Type
In December 2023, spark-ignition trucks of a g.v.w. under 5 tonnes (19K units) constituted the largest type of truck supplied to Canada, with a 65% share of total imports. Moreover, spark-ignition trucks of a g.v.w. under 5 tonnes exceeded the figures recorded for the second-largest type, diesel or semi-diesel trucks of a g.v.w. under 5 tonnes (7.5K units), threefold. Diesel or semi-diesel trucks of a g.v.w. from 5 to 20 tonnes (2.1K units) ranked third in terms of total imports with a 7.2% share.
From December 2022 to December 2023, the average monthly rate of growth in terms of the volume of import of spark-ignition trucks of a g.v.w. under 5 tonnes totaled -2.4%. With regard to the other supplied products, the following average monthly rates of growth were recorded: diesel or semi-diesel trucks of a g.v.w. under 5 tonnes (+2.9% per month) and diesel or semi-diesel trucks of a g.v.w. from 5 to 20 tonnes (+2.1% per month).
In value terms, spark-ignition trucks of a g.v.w. under 5 tonnes ($620M) constituted the largest type of truck supplied to Canada, comprising 51% of total imports. The second position in the ranking was held by diesel or semi-diesel trucks of a g.v.w. under 5 tonnes ($234M), with a 19% share of total imports. It was followed by diesel or semi-diesel trucks of a g.v.w. from 5 to 20 tonnes, with an 18% share.
Import Prices by Country
In December 2023, the truck price stood at $40,728 per unit (CIF, Canada), increasing by 10% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.8%. The growth pace was the most rapid in January 2023 when the average import price increased by 13% month-to-month. Over the period under review, average import prices hit record highs in December 2023.
Average prices varied noticeably amongst the major supplying countries. In December 2023, the country with the highest price was the United States ($41,820 per unit), while the price for Germany ($34,662 per unit) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by the United States (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the truck market in Canada. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 29104110 - Goods vehicles with a diesel or semi-diesel engine, of a gross vehicle weight . 5 tonnes (excluding dumpers for off-highway use)
- Prodcom 29104130 - Goods vehicles with a diesel or semi-diesel engine, of a gross vehicle weight > 5 tonnes but . .20 tonnes (including vans) (excluding dumpers for off-highway use, tractors)
- Prodcom 29104140 - Goods vehicles with compression-ignition internal combustion piston engine (diesel or semi-diesel), of a gross vehicle weight > .20 tonnes (excluding dumpers designed for offhighway use)
- Prodcom 29104200 - Goods vehicles, with spark-ignition internal combustion piston engine, other goods vehicles, new
Country coverage:
- Canada
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Canada
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
