The ownership of passenger cars in Austria has steadily increased from 540.6 units per thousand persons in 2013 to a projected 571.0 units per thousand persons by 2028. Notable yearly increases include 2017, 2018, and 2019, with year-on-year growth rates of 0.85%, 1.1%, and 1.19% respectively.
In 2023, the ownership rate stood at 567.89 units per thousand persons. The average variation per year over the last five years (2018-2023) showed a CAGR of 0.49%, highlighting a trend of gradual growth.
Looking forward, the forecasted growth rate is expected to slow, with a 5-year CAGR of 0.08% and an overall growth rate of 0.41% by 2028.
Future trends to watch for include potential impacts from emerging transportation technologies, shifts in consumer preferences towards electric vehicles, and evolving governmental policies aimed at reducing carbon emissions which could influence car ownership rates in Austria.
