Key Market Indicators
Serbia's commercial vehicle registration is projected to decline slightly, reaching approximately 3,730 units by 2028, down from around 3,760 units in 2023. This represents a modest annual decrease of 0.1% in compound annual growth rate (CAGR). Since 2010, the Serbian market has seen a yearly decline of 1.2%. In 2023, Serbia ranked 82nd in commercial vehicle registrations, with Cambodia just ahead at the same number of units. Leading the rankings were Canada, Mexico, and Argentina, securing the second, third, and fourth positions, respectively. Serbian commercial vehicle production experienced a significant drop in 2023, with only 63 units produced, compared to 140 units in 2022—a sharp 55% decline. Since 2002, the country's vehicle supply has decreased by an average of 9.9% annually. In 2023, Serbia ranked 28th in commercial vehicle production, with Ukraine slightly ahead, also producing 63 units. The top spots in production were claimed by Mexico, China, and Canada, occupying the second, third, and fourth positions, respectively.
