Key Market Indicators
Sri Lanka's vehicle registration is projected to decline to approximately 10,600 units by 2028, down from around 11,100 units in 2023. This represents a compound annual growth rate (CAGR) decrease of 0.6% year-on-year. Since 2010, the Sri Lankan market has seen a consistent downturn, with an annual average decline of 3.2%. In 2023, Sri Lanka ranked 93rd globally in vehicle registrations, with Laos surpassing it at the 11,100-unit mark. On the international stage, Canada, China, and Austria secured the second, third, and fourth positions, respectively, in vehicle registration rankings.
