Cameroon 2018. Toyota holding 51.5% of share in a harsh environment

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Cameroon vehicles market
Toyota-Camry-2018

Cameroon vehicles market was stable in the 2018, registering 3.152 sales (+1.2%). Toyota held the more than half of the market, with 1.675 sales, followed by Nissan and Renault with almost 200 units sold.

Cameroon’s economy is diversified, featured with oil and gas, timber, aluminum, agriculture, mining and the service sector. Oil remains Cameroon’s main export commodity, and despite falling global oil prices, still accounts for nearly 40% of exports. Cameroon’s economy suffers from factors that often impact underdeveloped countries, such as stagnant per capita income, a relatively inequitable distribution of income, a top-heavy civil service, endemic corruption, continuing inefficiencies of a large parastatal system in key sectors, and a generally unfavorable climate for business enterprise.

In 2018, Cameroon’s financial system is being requested by the International Monetary Fund (IMF) to increase its tax base to cover the losses from the North-West and South-West Cameroon’s regions instabilities, the loss of oil revenue, the failure to deliver on port facilities, and the decline in oil production from mature oil fields.

Cameroon’ vehicles sector is still populated by imported used vehicles and is facing a negative trend, as new car registrations has declined for the 3rd year in a row. Indeed, the market fell from 3.752 units in 2015 to 3.116 in 2017.

In 2018, the market was stable, but scoring a positive performance. Indeed, the year ended with 3.152 sales, down 1.2% from the previous year.

In the competitive landscape, Toyota keeps dominating holding more than half of the market with 1.675 sales, while all other players’ annual sales stand below the 300 units.