The Canadian Automobile Dealers Association (CADA) published its 2023 Economic Impact Report this week, which found that auto retailers sold 1,488,645 new vehicles and generated more than $28 billion of Canada’s GDP.
The study was developed in collaboration with MNP and is meant to offer a comprehensive view of the economic contributions made by dealers across the country. CADA said the data should also provide decision-makers with a clearer understanding of how integral dealers are to both local communities and regional economies.
“The data specific to each province is invaluable, especially when auto dealers engage with their regional and provincial politicians,” said CADA in a news release. “These reports will serve as crucial tools for effective advocacy, enabling the industry to communicate its significance to local economies.”
Working with research partner MNP, and drawing on data from 2022, the study found some key insights including:
- Canada’s 3,458 franchised new car and truck dealers sold 1,488,645 new vehicles;
- Dealers directly employed 167,790 people;
- Dealers recorded total revenues of $151.5 billion; and
- In 2022, new car dealers contributed a total of $6.3 billion in taxes to all three levels of government.
“As the automotive industry is going through major structural changes, better information sharing is key in ensuring that policy objectives are well aligned with what is being observed, on the field, by auto retailers,” said CADA.
Dealers interested in reading the report can access it in English and in French here.
