Key Market Indicators
Armenian commercial vehicle registrations are projected to decline to approximately 271 units by 2028, down from 296 units in 2023. This marks an average annual decrease of around 1.3%. Since 2010, the Armenian market has experienced a consistent year-on-year decline of 13.2% in commercial vehicle registrations. In the 2023 rankings, Armenia was positioned at 118th place globally. Albania slightly outpaced Armenia with 296 units. Leading the rankings were Canada, Mexico, and Argentina, occupying the second, third, and fourth positions respectively.
