Key Market Indicators
Uruguayan vehicle registration is projected to reach approximately 42,840 units by 2028, maintaining a stagnant growth rate from the 42,880 units recorded in 2023. This translates to a 0% average annual growth rate over the five-year period. Since 2010, Uruguay's vehicle market has experienced a gradual decline, averaging a 0.6% decrease year on year. As of 2023, Uruguay ranked 67th globally in vehicle registrations. Panama surpassed Uruguay with an identical figure of 42,880 units. In the international landscape, Canada, China, and Austria held the second, third, and fourth positions, respectively, in the vehicle registration rankings for 2023.
