Importing Vehicle To Canada 2026 Market Overview & Trends

Canada's vehicle import market has seen significant growth, with the total import value rising from $21.9B in 2020 to $39.1B in 2024. While import quantities reached a peak of 1.48 million units in 2023, the 2024 data shows a slight volume decrease to 1.46 million units despite the increased total value, indicating a rise in unit costs or a shift in product mix.

In 2024, the United States dominated the Canadian market with $15.6B in vehicle exports. Mexico ($5.9B), Japan ($5.5B), and South Korea ($5.2B) followed as major suppliers. This data underscores Canada's heavy reliance on North American trade partners and established Asian automotive manufacturers for its vehicle supply chain, with Germany trailing at $2.7B.

South Korea and Mexico are the fastest-growing partners, both achieving a growth rate of approximately 14.1% in 2024. Conversely, the United States, despite being the largest overall supplier, saw a 1.4% contraction in growth. This suggests a strategic shift in sourcing, with Canada increasingly looking toward competitive Asian and Mexican automotive hubs.

Standard motor vehicles (HS 870323) lead imports at $15.9B, but hybrid and electric vehicles (HS 870390) have emerged as a massive secondary category at $12.3B. High-capacity engines over 3000cc (HS 870324) also remain significant at $6.7B, showing a diverse market split between traditional internal combustion engines and modern electric propulsion technologies.