Key Market Indicators
Panama's car registration is projected to hit 44,800 units by 2028, up from approximately 41,800 units this year. This forecast represents an average annual growth rate of 1.1%. Since 2010, the demand for car registrations in Panama has seen a steady increase, with an average yearly growth rate of 2.8%. As of 2023, Panama ranks 64th globally in car registrations. Iraq narrowly surpasses Panama with 41,830 units registered this year. Leading the rankings are Indonesia, Austria, and Belgium, occupying the second, third, and fourth spots, respectively.
