The Global First Registrations of New Goods Vehicles reveal that, as of 2024, the Russian Federation holds the largest share at 31.06%. Australia follows with 17.73%, marking a slight increase from 2023. Conversely, South Korea and Spain experienced declines of 2.38% and 6.32% respectively. Countries like the United Kingdom and Romania saw modest gains of 1.67% and 2.2%. Significant downturns were noted in Slovakia (13.06%), Portugal (7.83%), and Bulgaria (8.65%). The overall landscape reflects a mixed pattern of growth and contraction across different regions.
Future trends to watch include evolving market dynamics driven by technological advancements, regulatory changes, and shifts in economic factors which could influence the global distribution of vehicle registrations. The uptake of electric vehicles and changes in trade policies could significantly impact these trends. Close monitoring of economic developments and technological integration in the automotive sector will be critical for forecasting future shifts in market shares.
Top countries in First Registrations of New Goods Vehicles Share by Country (Units (Registrations))
# | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
---|---|---|---|---|---|---|
1 | 1 Russian Federation | 31.06 | 2023 | |||
2 | 2 Australia | 17.73 | 2023 | -3.59% | +0.38% | View data |
3 | 3 South Korea | 13.33 | 2023 | -1.2% | -2.38% | View data |
4 | 4 Spain | 10.01 | 2023 | -0.88% | -6.32% | View data |
5 | 5 Netherlands | 4.43 | 2023 | +1% | -5.11% | View data |
6 | 6 United Kingdom | 3.2 | 2023 | +7.63% | +1.67% | View data |
7 | 7 Romania | 2.93 | 2023 | +2.57% | +2.2% | View data |
8 | 8 Austria | 2.69 | 2023 | +76.43% | -1.5% | View data |
9 | 9 Canada | 2.39 | 2023 | +5.15% | -5.07% | View data |
10 | 10 Denmark | 2.28 | 2023 | +2.69% | -0.47% | View data |