Key Market Indicators
Portuguese commercial vehicle registration is projected to plummet to approximately 11,500 units by 2028, down from 26,100 units in 2023. This represents a year-on-year compound annual growth rate (CAGR) decline of 13%. Since 2010, the market has been shrinking at an average rate of 7.9% per year. In 2023, Portugal ranked 49th globally in commercial vehicle registrations, with Denmark surpassing it to claim the same number of units. Canada, Mexico, and Argentina held the 2nd, 3rd, and 4th spots, respectively. In contrast, Portuguese commercial vehicle production is expected to see a modest increase. By 2028, production is anticipated to reach around 61,900 units, up from 60,600 units in 2023, reflecting a year-on-year average growth rate of 0.3%. Since 2002, Portugal's supply has been on a steady rise, averaging a 2% annual increase. In 2023, Portugal ranked 22nd in global commercial vehicle production, with Taiwan overtaking it to produce an equal number of units. Mexico, China, and Canada secured the 2nd, 3rd, and 4th positions, respectively, in this category.
