Key Market Indicators
Tobagonian vehicle registration is projected to decline to approximately 13,800 units by 2028, down from about 14,200 units in 2023. This represents an average annual decrease of 0.4%. Since 2010, the Tobagonian market has seen a modest increase, averaging 1.3% growth per year. In the global ranking for 2023, Tobago placed 85th, with Iceland just slightly ahead, also at around 14,200 units. Leading the rankings were Canada, China, and Austria, securing the second, third, and fourth positions respectively.
