Key Market Indicators
Guatemala's commercial vehicle registration is projected to see a modest increase over the next five years. By 2028, the number of registered commercial vehicles in the country is expected to reach approximately 13,150 units, up from around 12,140 units in 2023. This represents an average annual growth rate of 1.3%. Since 2010, the Guatemalan market has experienced an average yearly growth of 1.9%. Despite this progress, in 2023, Guatemala ranked 63rd globally in commercial vehicle registration, with Singapore leading the way at 12,140 units. Canada, Mexico, and Argentina followed as the second, third, and fourth highest in this category, respectively. In a related sector, the sales of diesel trucks in Guatemala are also set to rise significantly. By 2028, sales are expected to hit $499.5 million, compared to $406.55 million in 2023, marking an average annual growth rate of 3.3%. Since demand for diesel trucks has grown by 1.9% each year, Guatemala's progress in this market is notable. France, Italy, and Germany hold the second, third, and fourth positions in the global ranking for diesel truck sales.
