Key Market Indicators
Colombian vehicle registration is projected to reach approximately 2.21 million units by 2028, up from roughly 2.15 million units in 2023. This represents an average annual growth rate of 0.5%. Since 2010, the Colombian market has expanded by over 54% year-on-year. In 2023, Colombia ranked 20th globally, with Italy taking the lead at about 2.15 million units. Canada, China, and Austria secured the 2nd, 3rd, and 4th positions, respectively. Meanwhile, Colombian vehicle production is expected to hit around 106,000 units by 2028, growing from about 86,600 units in 2023. This growth signifies an average annual rate of 3.2%. Since 2004, the nation's vehicle supply has increased by 3.5% year-on-year. In 2023, Colombia ranked 37th in vehicle production, with Egypt surpassing it at approximately 86,600 units. The global leaders in this category were the United States, Japan, and Germany, occupying the 2nd, 3rd, and 4th spots, respectively.
