Key Market Indicators
Australian vehicle registration is projected to surge to 61 million units by 2028, marking a significant increase from 48 million units in 2023. This translates to an average annual growth rate of 3.8%. Since 2010, the Australian vehicle market has experienced a remarkable 112% year-on-year growth. In the global ranking, Canada, China, and Austria follow Australia, occupying the second, third, and fourth spots, respectively. However, Australian vehicle production tells a different story. The country produced roughly 31,000 units in 2023, down from about 44,000 units in 2022. This represents a sharp decline of nearly 30% compared to the previous year. Over a longer period, since 2002, the Australian supply has decreased by an average of 21% annually.
