Key Market Indicators
Taiwan's vehicle registration is projected to reach approximately 655,000 units by 2028, up from around 484,000 units in 2023, reflecting an annual growth rate of 4.8%. Since 2010, the Taiwanese market has seen a significant increase of 15.6% year over year. In 2023, Taiwan ranked 40th globally, with Bulgaria surpassing it with 484,000 units. The top spots were held by Canada, China, and Austria, ranking second, third, and fourth, respectively. Taiwan's vehicle production is expected to hit about 268,000 units by 2028, a slight increase from 266,000 units in 2023, marking a 0.1% annual growth rate. Since 2002, the country's vehicle supply has grown by 1% annually. In 2023, Taiwan ranked 29th in global vehicle production, with Vietnam leading slightly with 266,000 units. The United States, Japan, and Germany occupied the second, third, and fourth positions in this category.
