Since 2013, the commercial vehicles in use in Mozambique showed a general upward trend, growing from 94.0 thousand units in 2013 to 124.0 thousand units in 2023, representative of an approximately 32% increase. Despite a significant dip in 2020, where the values fell sharply by 14.78% from the previous year, the market recovered robustly with a 17.44% rise in 2021. The last two years (2022 and 2023) continued with modest growth, showing year-on-year variations of 7.94% and 2.48%, respectively. The compound annual growth rate (CAGR) over the past five years has stabilized around 2.61%, indicating consistent positive movement post-2020.
Looking forward, the forecasted data suggest a continued gradual increase in commercial vehicles in use, reaching 138.14 thousand units by 2028. The forecast CAGR over the next five years is projected at 1.77%, with an overall growth rate of 9.15% by the end of this period.
Future trends to watch for include the economic policies impacting auto financing, infrastructure development, and advancements in transportation technology. Additionally, fluctuations in global trade could affect commercial vehicle usage and subsequent growth trends in Mozambique.
