Key Market Indicators
Romanian vehicle registration is projected to hit approximately 1 million units by 2028, climbing from around 690,000 units in 2023. This represents an average annual growth rate of 6.1%. Since 2010, the Romanian market has experienced a notable uptick, with a year-on-year increase of 34.3%. In 2023, Romania ranked 34th globally in vehicle registrations, with Iran narrowly ahead at 690,340 units. Leading the rankings were Canada, China, and Austria, occupying the second, third, and fourth spots respectively. Meanwhile, Romanian vehicle production is expected to reach nearly 590,000 units by 2028, up from about 520,000 units in 2023. This equates to a modest average annual growth rate of 2%. Since 2002, the supply side in Romania has grown at an average rate of 1.7% per year. In 2023, Romania held the 23rd position in global vehicle production rankings, with Argentina surpassing it at 518,920 units. The United States, Japan, and Germany were the top three nations in this category, ranking second, third, and fourth respectively.
