Cameroon 2017. Toyota holds over 50% of market share

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Cameroon vehicles
Toyota-4Runner_TRD_Pro-2019

Cameroon vehicles market keeps to be populated at 95% by import of used cars. In the 2017, albeit the economy was among the best in the CEMAC region, new vehicles sales have lost 16%. Toyota holds over 50% of market share.

Cameroon is the  strongest and most diversified economy in the Central African Economic and Monetary Community (CEMAC), Cameroon has long been resilient to shocks, but its economy is showing early signs of a slowdown. GDP growth has been steady since 2010, averaging 5.8% from 2013 to 2015 before falling to 4.7% in 2016. Lagging oil and gas prices resulted in postponement of investment in exploration and production, which led to a decline in extractive activities. The recession in Nigeria, the widening crisis in CEMAC, and unrest in the country’s English-speaking regions hurt domestic and external demand. These headwinds lowered the growth rate to an estimated 3.4% in 2017. However, the outlook beyond remains positive, with growth projected at 4.1% in 2018 and 4.8% in 2019, spurred by higher exports to the European Union following an Economic Partnership Agreement (EPA) and increased energy supply due to new hydroelectric dams.

Cameroon’ vehicles sector is still populated by imported used vehicles with new vehicles share of annual new registrations stable around 5% of total, with only around 3.000 units sold per year. In 2017 sales have been 3.116, losing 16.2% from the previous year, when market hit the best in this decade

Sales 2012Sales 2013Sales 2014Sales 2015Sales 2016Sales 2017Sales 2018 e
Car+LCV3.3003.9003.7083.3603.7203.1163.098
2012 Var2013 Var2014 Var2015 Var2016 Var2017 Var2018 var e
Car+LCV13,8%18,2%-4,9%-9,4%10,7%-16,2%-0,6%

Toyota dominates the competitive landscape hitting the 52% of market share in 2017 with 1.692 sales, while all others players annual sales stand below the 200 units.