Key Market Indicators
Bahamian vehicle registration is projected to experience a significant decline, dropping to approximately 490 units by 2028 from its current count of 1,150 in 2023. This represents a year-on-year compound annual growth rate (CAGR) decrease of 13.4%. Since 2010, the Bahamian market has been shrinking at an average annual rate of 7%. In 2023, the Bahamas ranked 122nd in global vehicle registration, with Tajikistan surpassing it at the same level of 1,150 units. Leading the rankings, Canada, China, and Austria took the second, third, and fourth positions, respectively.
