Key Market Indicators
Jamaican commercial vehicle registrations are projected to decline to approximately 1,940 units by 2028, down from around 2,030 units in 2023. This represents an annual decrease of 0.7% in the compound annual growth rate (CAGR). Since 2010, the Jamaican market has experienced a modest annual increase of 0.9%. However, in 2023, Jamaica was ranked 91st in global commercial vehicle registrations, trailing behind Ghana, which registered the same number of units at about 2,030. In the broader regional context, Canada, Mexico, and Argentina secured the second, third, and fourth positions, respectively, in commercial vehicle registrations.
