Key Market Indicators
Cuba's vehicle registration is projected to decline over the next five years, dropping from approximately 3,900 units in 2023 to around 3,700 units by 2028, reflecting a compound annual growth rate (CAGR) of -0.6%. This trend continues a broader pattern observed since 2010, during which the Cuban market has contracted at an average annual rate of 8.7%. In 2023, Cuba ranked 107th globally in vehicle registration, with Mongolia surpassing it by registering roughly 3,900 units. On the global stage, Canada, China, and Austria secured the second, third, and fourth positions, respectively, in vehicle registration rankings.
