Key Market Indicators
Panama's vehicle registration sector is poised for modest growth, with projections indicating an increase to approximately 51,000 units by 2028. This marks an average annual growth rate of 0.7% from the 49,000 units registered in 2023. Since 2010, the Panamanian market has experienced a steady annual increase of 1.7%. In the global ranking for 2023, Panama held the 66th position, with Tunisia surpassing it at 49,000 units. Key players in the global vehicle registration rankings for the same year include Canada, China, and Austria, which secured the second, third, and fourth spots, respectively.
