Factor influencing tire sales in Canada include the increasing demand for vehicles, rising automotive production, and the growing need for replacement tires due to the harsh climate and diverse road conditions. Additionally, advancements in tire technology, such as the development of fuel-efficient, all-season tires and winter tires, are contributing to market growth. The growing emphasis on road safety has resulted in new government regulations regarding vehicle maintenance, including replacing unsafe tires. Furthermore, the adoption of electric vehicles, whose operation leads to tires wearing out faster than tires on an Internal Combustion Engine (ICE) power vehicle, are all combining to prompt a vibrant but highly competitive motor vehicle tire marketplace.
Passenger vehicle tire replacement is also influenced by consumer demographics, income and debt load, and industry marketing practices.
