Key Market Indicators
Luxembourg is projected to see its vehicle registrations climb to approximately 63,800 units by 2028. This marks a modest increase from the 61,500 units recorded in 2023, reflecting an average annual growth rate of 0.6%. Since 2010, the vehicle registration market in Luxembourg has experienced a steady annual increase of 1.3%. Despite this consistent growth, the country ranked 63rd in 2023, with Iraq slightly ahead, also tallying around 61,500 units. On the global stage, Canada, China, and Austria secured the top three positions in vehicle registrations for 2023, underscoring their significant automotive markets.
