Key Market Indicators
Nepal's vehicle registration is projected to climb to approximately 34,000 units by 2028, marking a steady increase from around 27,000 units in 2023. This growth equates to an average annual rate of 3.8%. Since 2010, the Nepalese market has consistently expanded, with an average yearly growth rate of 5.1%. In 2023, Nepal ranked 75th globally in vehicle registration, with Serbia surpassing it at the same figure of 27,000 units. At the top of the global ranking for vehicle registrations, Canada, China, and Austria occupied the second, third, and fourth spots, respectively.
