Democratic Republic of Congo’s Auto market in 2022 falls, reversing the positive trend set in 2021. New sales this year, in fact, reached 979, a 2.1% decrease from the prior year.
Market Trend and Outlook
Democratic Republic of Congo’s car market in 2022 falls, reversing the positive trend set in 2021 that grew 18.3% in volume. New sales this year, in fact, reached 979, a 2.1% decrease from the prior year.
Looking at cumulative data from 2022 brand-wise, the leader is still Toyota with 49.1% market share and a 0.6% increase in sales, far in front of Mitsubishi in second with just 16.3% market share (-2.4%). Nissan ranks in 3rd with a 0.9% loss in sales and 11.6% market share.
Medium-Term Market Trend
The new vehicles market is still very little in the country, addressed by the import of used vehicles from Europe and the Middle East, and actually, the annual sales of new cars represent less than 10% of total vehicle registrations.
In recent years the market was stable around the 2,000 annual sales, while in 2017, the recovery of oil price in the international market, sustained internal demand boosting the registrations of new light vehicles at the new record of 3,304 units, up 74.3%, rebalancing the volume after two years of decline.
However, in 2018 the new vehicle sales were hit by a large drop, which pulled the market below the 2,000 threshold. Indeed, the year ended with 1,965 units sold, losing 40.5% from the previous year.
In 2019 the situation definitely did not improve, as the year ended with 1,319 units sold, losing 33% from the previous year and keeping the same trend of decline.
Due to the COVID-19 Pandemic full-Year sales for 2020 have been 841, reporting a decline of 36.2% compared to 2019.
Following the pandemic the market in 2021 grew 18.9% to 1,000 cumulative sales.