Key Market Indicators
Ecuador's commercial vehicle registration is projected to climb to 52,000 units by 2028, up from approximately 49,000 units in 2023. This marks an average annual growth rate of 1.1%. Since 2010, the Ecuadorian market has experienced a significant rise, growing at an annual rate of 13.6%. In the global rankings for 2023, Ecuador stood at 37th place, with Pakistan surpassing it at around 49,000 units. Canada, Mexico, and Argentina occupied the second, third, and fourth spots respectively. In contrast, Ecuador's commercial vehicle production has seen a sharp decline. Production fell from 1,150 units in 2022 to 839 units in 2023, a decrease of 27.3% compared to the previous year. Since 2005, the country's supply has been on a downward trend, decreasing by 19.5% annually.
