Key Market Indicators
Malagasy commercial vehicle registrations are projected to decline significantly over the next five years. By 2028, the number of registered commercial vehicles in Madagascar is expected to drop to approximately 558 units, down from 716 units in 2023. This represents an average annual decrease of 3.9%. The trend of declining registrations has been ongoing since 2010, with the market shrinking by an average of 3.5% each year. In 2023, Madagascar ranked 109th globally in terms of commercial vehicle registrations. Gabon outpaced Madagascar with 716 units, securing a higher position in the rankings. Globally, Canada, Mexico, and Argentina took the second, third, and fourth spots respectively in the same ranking.
