Key Market Indicators
Nicaraguan vehicle registration is projected to plummet to approximately 593 units by 2028, a significant drop from the current 2,740 units recorded in 2023. This decline represents an average annual decrease of 23.6%. Since 2010, the Nicaraguan vehicle market has been on a steady downward trend, falling by an average of 25.3% each year. In the global ranking for 2023, Nicaragua occupies the 114th position. Cameroon surpasses Nicaragua with its own tally of 2,740 units. On the international stage, Canada, China, and Austria hold the second, third, and fourth positions, respectively, in vehicle registration rankings.
