Benin 2020. Light vehicle sales down 22.5%. Toyota undiscussed leader

Benin car market
The 2020 Jeep Wrangler Unlimited EcoDiesel

Benin vehicles Market falls due to the global pandemic affecting sales. Indeed, Full Year 2020 sales have 586, down 22.5% compared to the already very low selling 2019. Toyota consolidates leadership and gains 7.2% share.

Economic Environment

Benin’s free-market economy has grown consecutively for four years, though growth slowed in 2017, as its close trade links to Nigeria expose Benin to risks from volatile commodity prices. Cotton is a key export commodity, with export earnings significantly impacted by the price of cotton in the broader market. The economy began deflating in 2017, with the consumer price index falling 0.8%.

Market Trend

The Benin vehicles market fell in double-digits in 2020 because of the world-wide COVID-19 pandemic. 

The automotive industry is still quite marginal in the African landscapes. Indeed, we talk about new vehicle sales and not on second-hands trading activity for which the country is well-known.

The new vehicles’ market reached a peak of 1.143 units sold in 2016, while embarking on a negative pathway in the following years, with a moderate decline in 2017 (-5.7%) and a sharp fall in 2018 (-23.7%).

In 2019, the market reported the 3rd consecutive year-on-year decline, registering 756 units (-9.1%) at the lowest level since 2014.

Full-Year sales for 2020 have been 586, reporting a 22.5% decrease in sales compared to 2019.

Brand-wise, this year the leader Toyota (-10.1%) gained 7.2% market share, followed by Mitsubishi (-20%), which gained 0.3% share. Suzuki reached 3rd position and gained 1.5% market share.

The most sold model in the country remains the Toyota Hilux with 178 sales (-21.2%), holding a growing 30.4% market share.