Key Market Indicators
Vehicle registration in the country is projected to decline significantly, with the number of units expected to drop to approximately 239 by 2028 from around 681 units in 2023. This marks an average annual decrease of 16.4%. Since 2010, the market has been consistently shrinking, with an average yearly decline of 6.6%. As of 2023, the country ranks 125th in vehicle registrations, having been overtaken by Burkina Faso, which registered 681 units. In the global context, Canada, China, and Austria hold the second, third, and fourth positions, respectively, in vehicle registration rankings for 2023.
