The global first registrations of new goods vehicles show fluctuations across countries. In 2023, Australia exhibited a modest increase of 0.38%, while significant declines were noted in South Korea and Spain with -2.38% and -6.32%, respectively. Romania had a notable rise of 2.2%, contrasting with Slovakia’s steep decrease of -13.06%. Variations across countries indicate a sensitive market influenced by several economic factors. The compound annual growth rate over the last five years suggests an industry facing moderate challenges and shifts.
Future trends to watch include:
- Economic recovery efforts potentially boosting registrations in Europe.
- Technological advancements driving demand for new vehicle types in Australia and Canada.
- Environmental policies influencing vehicle registrations, particularly in the EU.
- Increasing demand for electric goods vehicles, impacting overall registration trends globally.
Top countries in First Registrations of New Goods Vehicles by Country
| # | 10 Countries | Units (Registrations) | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Russian Federation | 512,970 | 2023 | |||
| 2 | 2 Australia | 292,830 | 2023 | -3.59% | +0.38% | View data |
| 3 | 3 South Korea | 220,220 | 2023 | -1.2% | -2.38% | View data |
| 4 | 4 Spain | 165,240 | 2023 | -0.88% | -6.32% | View data |
| 5 | 5 Netherlands | 73,190 | 2023 | +1% | -5.11% | View data |
| 6 | 6 United Kingdom | 52,830 | 2023 | +7.63% | +1.67% | View data |
| 7 | 7 Romania | 48,370 | 2023 | +2.57% | +2.2% | View data |
| 8 | 8 Austria | 44,460 | 2023 | +76.43% | -1.5% | View data |
| 9 | 9 Canada | 39,390 | 2023 | +5.15% | -5.07% | View data |
| 10 | 10 Denmark | 37,600 | 2023 | +2.69% | -0.47% | View data |
