In 2023, the global share of first registrations of new vehicles highlighted Japan's dominance at 26.03%, despite a year-on-year decline of 4.57%. Canada saw growth with a 3.64% increase, standing at 15.39%. Italy and Spain faced significant drops of 6.85% and 9.44% respectively. Notably, Romania and Greece experienced positive growth, with increases of 4.05% and 2.28%. Conversely, Slovakia and Portugal's shares dropped significantly by 13.69% and 7.38% respectively. These shifts underscore ongoing dynamic changes in global automobile markets.
Future trends to watch for include the potential impact of electric vehicle adoption and regulatory environment shifts on the market shares of these countries. The automotive industry's technological advancements and consumer preferences for sustainable vehicles are likely to influence global registration patterns significantly.
Top countries in First Registrations of New Vehicles Share by Country (Units (Registrations))
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Japan | 26.03 | 2023 | -1.09% | -4.57% | View data |
| 2 | 2 Canada | 15.39 | 2023 | +8.1% | +3.64% | View data |
| 3 | 3 Italy | 9.31 | 2023 | -0.99% | -6.85% | View data |
| 4 | 4 South Korea | 8.45 | 2023 | -2.8% | -2.77% | View data |
| 5 | 5 Australia | 6.89 | 2023 | +0.29% | -1.22% | View data |
| 6 | 6 Spain | 6.87 | 2023 | -6.93% | -9.44% | View data |
| 7 | 7 Belgium | 3.51 | 2023 | +27.18% | -2.92% | View data |
| 8 | 8 Poland | 3.23 | 2023 | -1.26% | -4.48% | View data |
| 9 | 9 Chile | 3.15 | 2023 | +1.74% | +1.66% | View data |
| 10 | 10 Netherlands | 2.42 | 2023 | -1.01% | -6.71% | View data |
