Ghana 2021. Toyota Remains Unchallenged Leader In Market Down 7.5%

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Ghana car market
The 2022 Mitsubishi Outlander

Ghana’s Auto market in 2021 drops 7.5% with 4,358 sales, reporting a negative performance all year except for Q2. Leader Toyota remains unchallenged, and keeps gaining market share.

Market Trend

Ghana’s car market this year was unable to grow and reported a negative performance in all months except for Q2

Ghanian vehicles market fell down to 5,347 units in 2015 – after hitting 11,788 sales in 2013 – due to the effects of the economic recession. However, the market registered a robust recovery in the following years, when in 2017 sales ended with registrations at 9,150. In 2018, the market was hit by another strong sales decline (-21.4%) selling 7,193 units.

In 2019, light vehicle sales kept crumbling. Indeed, the Full-year ended with 5,702 registrations, down 20.8% from the previous year.

Due to the COVID-19 Pandemic full-Year sales for 2020 have been 4,710, reporting a decline of 17.4% compared to 2019.

In 2021 the year started negatively for the Ghana market, in fact, in Q1 1,250 units have been sold, reporting a 6.4% decrease in sales compared to Q1 2020, while in Q2 sales slowed down, reporting a 8.5% increase in sales with 1,080 units sold.

In Q3 sales dropped again 24.8% with 994 units sold, and in Q4 they remained down 16.6% with 1,034 units sold.

Indeed, Full-Year sales for 2021 have been 4,358, reporting a 7.5% decrease compared to 2020.

Ghana quarterly sales variation
Ghana quarterly sales variation

Brand-wise, this year the leader Toyota (+2.7%) gained 2.6% market share, followed by Nissan (-6.9%), which gained 0.2% share. Mitsubishi (-7.5%) was in the third position and did not gain any share.

The most sold model in the country remains the Toyota Hilux with 484 sales (+25.7%), holding 11.1% market share.