Key Market Indicators
Mongolia's vehicle registration is projected to hit approximately 4,730 units by 2028, marking an average annual growth rate of 2.3% from its current figure of about 4,090 units in 2023. From 2010 onwards, the Mongolian market has seen a robust annual growth rate of 12.9%. Despite this steady expansion, Mongolia was ranked 106th globally in 2023. Cambodia surpassed Mongolia with an equal number of 4,090 registered units. On a broader scale, Canada, China, and Austria claimed the second, third, and fourth positions respectively in the global vehicle registration rankings.
