Key Market Indicators
Vehicle registrations are projected to plummet to approximately 239 units by 2028, a steep decline from the 681 units recorded in 2023. This represents a year-on-year compound annual growth rate (CAGR) drop of 16.4%. Since 2010, the market has been on a downward trajectory, decreasing by an average of 6.6% annually. In 2023, the country ranked 125th in vehicle registrations, with Burkina Faso surpassing it at 681 units. Canada, China, and Austria secured the second, third, and fourth positions in the global ranking, respectively.
