Key Market Indicators
The registration of commercial vehicles in Tobago is projected to decline to approximately 2,550 units by 2028, down from about 3,320 units in 2023. This represents an average annual decrease of 4.1%, according to recent data. Since 2010, the Tobagonian market has experienced a steady decline, averaging a reduction of 1.7% per year. In the 2023 rankings, Tobago was placed 84th globally, with Libya slightly ahead, registering the same number of units at 3,320. Leading the rankings were Canada, Mexico, and Argentina, securing the second, third, and fourth positions, respectively.
