Police were contacted by a neighbour who discovered the man’s body lying on the floor of a garage on the Avenue de Gare in the community of Chavannes-pres-Renens late on Monday.
Emergency officials arrived at the scene where he was discovered dead from numerous bullet wounds.
The victim’s vehicle, a grey Peugeot 308 with Vaud licence plates, was parked with the engine running in a courtyard in front of the garage, police said.
After an autopsy was conducted later in the day at the university centre for legal medicine for western Switzerland (CURML), police issued a statement on Tuesday indicating that they were treating the death as a homicide.
Late on Tuesday morning, cantonal police organized a search around the area where the victim was found, involving 20 gendarmes and 11 officers from the West Lausanne police force, plus two dogs from the canine squad.
However, they were unable to find any suspects.
The 24heures newspaper, which contacted the man’s brother, said the victim was of Kosovar origin.
A local resident told the newspaper the man lived in the area where he died known as La Blancherie.
Housing a population of around 2,000 people in apartment towers, the neighbourhood is reportedly known for drug dealing and other social problems.
Police have launched a public appeal for information that may help solve the case, asking people to phone the criminal division at Mont-sur-Rolle on 021 644 44 44 or to contact the nearest police station.
The local prosecutor has launched a criminal investigation into the case.