Key Market Indicators
Ukrainian vehicle registration is projected to hit approximately 2.3 million units by 2028, up from nearly 1.9 million units in 2023. This marks an annual growth rate of 3.2%. Since 2010, the market has seen an impressive increase of 82% year on year. In 2023, Ukraine ranked 22nd globally in vehicle registrations, with South Korea leading at the same figure of around 1.9 million units. Canada, China, and Austria followed in the second, third, and fourth positions, respectively. Ukrainian vehicle production is expected to reach about 46,000 units by 2028, a significant rise from roughly 18,600 units in 2023. This translates to an average annual growth rate of 13.7%. Since 2002, the country's vehicle supply has grown by 23% year on year. In 2023, Ukraine ranked 42nd in vehicle production, just behind Belarus. The United States, Japan, and Germany secured the second, third, and fourth spots in the global ranking.
