Key Market Indicators
Kenya's vehicle registration numbers are projected to decline significantly over the next five years, according to recent data. By 2028, the number of registered vehicles in the country is expected to drop to approximately 3,770 units, down from around 5,080 units in 2023. This represents an annual compound growth rate (CAGR) decrease of 4.7%. The Kenyan market has been on a downward trend since 2010, with an average annual decrease of 7.3%. In the latest rankings for 2023, Kenya was positioned at number 104 globally. Ghana surpassed Kenya, registering the same number of units, 5,080. In the broader global context, Canada, China, and Austria held the second, third, and fourth positions, respectively, in vehicle registration numbers for 2023.
