Key Market Indicators
The registration of vehicles in Madagascar is projected to decline to approximately 1,610 units by 2028, down from around 1,780 units in 2023. This represents an average annual decrease of 1.6%. Since 2010, the Malagasy vehicle market has experienced an average yearly decline of 2.3%. In the global ranking for 2023, Madagascar was positioned at number 115, with Nicaragua surpassing it by registering 1,780 units. Topping the list, Canada, China, and Austria secured the second, third, and fourth spots, respectively.
