Key Market Indicators
Libyan vehicle registration is projected to plummet to around 1,650 units by 2028, down from approximately 12,350 units in 2023. This signifies a year-on-year compound annual growth rate (CAGR) decline of 30.3%. Since 2010, the Libyan market has experienced a consistent downturn, falling by an average of 7.3% annually. In the global ranking for 2023, Libya was positioned at number 88, with Ivory Coast surpassing it with the same figure of 12,350 units. In comparison, Canada, China, and Austria secured the 2nd, 3rd, and 4th spots, respectively, in the vehicle registration rankings.
