Key Highlights of the African Automotive Industry
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African Automotive Market Overview
Although there was a decline in the overall sales of new vehicles due to COVID-19, commercial vehicles in 2019 increased by 0.33% to 308,319 units, compared to 307,301 units sold in 2018. In 2020, Egypt witnessed an increase in new vehicle sales by 26.55% to 231,238 units compared to 182,713 units sold in 2019. The African market has one of the highest growth prospects across the world. Multinational vehicle manufacturers currently setting up production plants in Angola, Ethiopia, Ghana, Kenya, Namibia, Nigeria, Rwanda, South Africa, and other countries are a clear indicator that there is potential to boost manufacturing for the automotive market in this region. South Africa, Egypt, Morocco, and Algeria have sizeable automotive assembly and manufacturing sectors.
Contract manufacturing is another major growth factor for companies that have franchises to manufacture for the OEMs. For instance, Kenya Vehicle Manufacturers, where the government has shares, hold franchises for Mercedes-Benz, Volkswagen, and Chrysler. Another local company, AVA, assembles medium and heavy commercial vehicles for Mitsubishi and Fuso and Scania, Toyota, Hino, and Tata.
African Automotive Market – Geographical Overview
South Africa region is expected to stand as the largest automotive industry
In 2020, according to the National Association of Automobile Manufacturers of South Africa, vehicle sales in the country declined by 29.1% because of the pandemic. However, as the country is a hub for exports of passenger cars in several other parts of the world, especially Europe, the market started restoring demand and is expected to continue over the forecast period. For instance, the export sales recorded a second consecutive month of solid growth in January 2021 and at 22,771 units reflected an increase of 6,468 units, or 39,7%, compared to the 16,303 vehicles exported in January 2020.
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Recent Developments in the African Automotive Market
Related Research and Links
List of Key Players in the African Automotive Market
*List Not Exhaustive
Mordor Intelligence has segmented the African Automotive Market based on vehicle type and geography:
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