Key Market Indicators
Armenian vehicle registrations saw a significant decline in 2019, with figures dropping to approximately 1,210 units. This represents a sharp 32.8% decrease from the previous year, when registrations stood at around 1,800 units. The downward trend is not a new phenomenon for Armenia. Since 2010, the country's vehicle market has experienced a steady decline, decreasing by an average of 26.4% year on year. The latest figures underscore the ongoing challenges faced by the Armenian automotive sector, which has struggled to maintain growth over the past decade.
