Ghana Auto Sales fast recovered after the previous year fall, thanks to the introduction of a new law, a milestone in this side of Africa, banning the import of obsolete used vehicles. Market improved 28.7% and next year outlook is positive.
Despite the robust performance in the final quarter Ghana economy growth over last year as a whole was the lowest in decades, coming in at 3.5%, with the all-important primary sector dragged down by lower prices for key commodity exports such cocoa and oil. In addition, the government’s precarious fiscal position, with a deficit which ballooned last year, dampened business confidence.
Looking ahead, growth should pick up significantly, as further oil production comes on stream, oil prices rise somewhat and the service sector continues to perform strongly. In addition, the implementation of measures announced in the 2017 budget should help tame the yawning budget deficit and put the public finances on a more sustainable footing
Increased duties on import of used vehicles, sustained the demand for new vehicles with the result of a recovery on sales after the previous year sharp decline. Indeed just part of the year benefit from the new law and the final sales, at 6.882 units (+28.7%) should be considered be base for a larger growth expected in the next year.
The market leader was Nissan, with 1.649 sales and 24.0% of market share.
Behind Toyota with 957 units and Mitsubishi with 615.
Research, Consulting, Data & Forecast Store
F2M covers intensively this market with several products developed to help any investigation required. Market Researches in PDF are immediately available for download with study on the market since 2005 and with forecast up to the 2025. Auto Data in EXCEL are immediately downloadable with annual sales volume, split by month, for all brands and all models distributed in the market. This year data are released year to date, but you will receive a monthly update until the year-end. All these and more within our Ghana Store