Ethiopia. Auto sales down 4.9% in 2019

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Ethiopia Auto sales
Toyota-RAV4_TRD_Off_Road-2020

Ethiopia Auto sales in 2019 registered the 6th consecutive year of decline. Indeed, Full-year sales have been 1.935, down 4.9% from the previous year. Toyota was still the market dominator, ahead of Isuzu and Lifan, which both held near 15% of the total market.

Economic Environment

Ethiopia economic growth gained strength in the 2018–2019 fiscal year, which ended in July 2019, spurred by a strong services sector and soaring industrial production. Available data for FY Q1 2019–2020 suggests resilience: Exports growth was sustained in the quarter, while public investment spending jumped by more than one quarter, although the fiscal deficit widened in the period.

Market Trend

Ethiopian vehicles market in recent years has been revitalized by the presence aof several small local assembly plants, built by Chines BYD, FAW, Lifan, Sinotruck and Geely, plus Toyota and, since 2017, Kia.

Despite the recent years’ positive economic environment, the Ethiopian market in recent years has deteriorated, dropping from near 4.000 units in 2015 to 2.034 in 2018.

In 2019, the market (including HCVs) declined again, marking the sixth annual loss in a row. Indeed, Full-year sales have been 1.935, down 4.9% from the previous year.

In the competitive landscape, Toyota is still the market dominator, holding a stable 19.6% of share, ahead of Isuzu and Lifan, both holding near 15% of the total market.

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