The road traffic signs in Sweden have no inventory system and it is unknown when a sign has reached the end of its service life and needs to be replaced. As a result, the road authorities do not have a systematic maintenance program for road traffic signs, and many signs which are not in compliance with the minimum retroreflectivity performance requirements are still found on the roads. Therefore, it is very important to find an inexpensive, safe, easy, and highly accurate method to judge the retroreflectivity performance of road signs. This will enable maintenance staff to determine the retroreflectivity of road signs without requiring measuring instruments for retroreflectivity or colors performance. As a first step toward the above goal, this paper aims to identify factors affecting the retroreflectivity of road signs. Two different datasets were used, namely, the VTI dataset from Sweden and NMF dataset from Denmark. After testing different models, two logarithmic regression models were found to be the best-fitting models, with R² values of 0.50 and 0.95 for the VTI and NMF datasets, respectively. The first model identified the age, direction, GPS positions, color, and class of road signs as significant predictors, while the second model used age, color, and the class of road signs.