Key Market Indicators
Kenya's vehicle registration is projected to decline significantly over the next few years, with estimates indicating a drop to approximately 3,770 units by 2028. This marks a sharp decrease from the 5,080 units registered in 2023, representing an annual compound growth rate (CAGR) decline of 4.7%. The Kenyan market has been on a downward trajectory since 2010, witnessing an average annual decrease of 7.3%. In the global ranking for vehicle registrations in 2023, Kenya was positioned at number 104. Ghana surpassed Kenya, recording 5,080 units for the same year. Meanwhile, leading the rankings were Canada, China, and Austria, occupying the second, third, and fourth spots respectively.
