Key Market Indicators
Mongolia's commercial vehicle registration is projected to hit nearly 977 units by 2028, up from roughly 834 units in 2023. This represents an average annual growth rate of 2.5%. Since 2010, the market in Mongolia has experienced a steady rise, with an average annual growth rate of 11.7%. In the global rankings for 2023, Mongolia secured the 107th position. Malta edged ahead with 834 units, placing Mongolia just behind. Leading the rankings were Canada, Mexico, and Argentina, occupying the second, third, and fourth spots respectively.
