Key Market Indicators
Taiwan is projected to see its car registrations climb to approximately 632,000 units by 2028, up from around 456,000 units in 2023. This marks an average annual growth rate of 5.1%. Since 2010, Taiwanese demand for car registrations has surged by 21.6% annually. In 2023, Taiwan was ranked 33rd globally, with Ecuador slightly ahead at 456,000 units. Indonesia, Austria, and Belgium held the top three spots in this category. Conversely, Taiwanese car production is expected to decline slightly, reaching an estimated 177,000 units by 2028, down from roughly 180,000 units in 2023. This represents an average annual decrease of 0.2%. Since 2002, car production in Taiwan has decreased by an average of 1.1% per year. In the 2023 rankings, Taiwan placed 34th, with Belgium surpassing it at 180,000 units. Japan, Germany, and India occupied the second, third, and fourth positions, respectively.
