Key Market Indicators
Serbian vehicle registration is projected to climb to approximately 29,300 units by 2028, up from around 28,950 units in 2023, marking an average annual growth rate of 0.2%. This follows a trend since 2010, where the Serbian market has seen a year-on-year increase of 0.7%. As of 2023, Serbia ranked 74th globally, with Bahrain surpassing it with the same number of units. Leading the rankings were Canada, China, and Austria, taking the second, third, and fourth spots respectively. In parallel, Serbian vehicle production is expected to reach about 37,000 units by 2028, an increase from roughly 36,500 units in 2023, also reflecting a 0.2% average annual growth rate. However, since 2002, Serbia's vehicle supply has experienced a significant decline, averaging an 8.3% year-on-year decrease. In 2023, Serbia was ranked 40th worldwide, with Colombia overtaking it at the same unit count. Dominating the production rankings were the United States, Japan, and Germany, occupying the second, third, and fourth positions respectively.
