Key Market Indicators
Panama's commercial vehicle registration is projected to decline, reaching approximately 6,580 units by 2028, down from around 7,570 units in 2023. This represents a compound annual growth rate (CAGR) decrease of 2.2% year over year. Since 2010, Panama's commercial vehicle market has seen a steady decline, averaging a 3.4% annual drop. In 2023, the country ranked 67th globally in commercial vehicle registrations. Slovakia surpassed Panama with 7,570 units. In the broader regional context, Canada, Mexico, and Argentina took the second, third, and fourth spots, respectively, in the commercial vehicle registration rankings.
