Key Market Indicators
Bulgarian vehicle registration is projected to hit nearly one million units by 2028, according to recent data. The number of registered vehicles is expected to rise from approximately 500,000 units in 2023 to around 960,000 units, marking an average annual growth rate of 10.2%. Since 2010, the Bulgarian market has seen a significant uptick, with a year-on-year growth rate of 63.4%. As of 2023, Bulgaria ranked 39th globally in vehicle registrations, with South Africa just ahead at roughly 500,000 units. In the global landscape, Canada, China, and Austria secured the second, third, and fourth positions, respectively, in vehicle registration rankings.
