Key Market Indicators
Panama's vehicle registration is projected to climb to approximately 51,000 units by 2028, up from around 49,000 units in 2023. This represents an average annual growth rate of 0.7%. Since 2010, the Panamanian market has seen a steady increase of 1.7% year on year. In 2023, Panama ranked 66th globally in vehicle registration, with Tunisia slightly ahead at about 49,400 units. Leading the global rankings were Canada, China, and Austria, occupying the second, third, and fourth positions respectively.
