Ivory Coast Vehicle Market suffers for poor local infrastructures and stagnant economy following years of civil war. In the 2013 the market was steady while it is expected to grow 15% in 2014. The competition is led by French makes.
Close ties to France following independence in 1960, the development of cocoa production for export, and foreign investment all made Cote d’Ivoire one of the most prosperous of the West African states but did not protect it from political turmoil.
Ivory Coast is the largest economy in the West African Economic and Monetary Union, constituting 40% of the monetary union’s total GDP. The country is the world’s largest exporter of Cocoa beans, and the fourth largest exporter of goods, in general, in sub-Saharan Africa
Starting from 1999 when a military coup – the first ever in Cote d’Ivoire’s history – overthrew the government the country has experienced internal turmoil and civil war. Following the last democratic election – held under the UN control – in 2011 and five months of post electoral fighting, the country is protected by military force from UN and France while the new government is working to rebuild economic basis and infrastructures.
The automotive sector is heavily underdeveloped due to the poor transport infrastructure, deteriorating road networks and high number of military checkpoints that have had a negative impact on foreign investment and on consumer’s demand.
Before the 2000, the car market was flourishing pushed up by growing GDP despite the car park was populated mainly by pre-owned vehicles imported by Japan and Europe. In the last the vehicle park collapsed and only in the last two years the market is growing back, pulled by used vehicles.
As far as new vehicles sales, the few thousand units sold in the country have a predominance of French models with Renault and Peugeot market leaders.
In the 2013 the total light passenger’s vehicle figures was 7.200 units with a 4% decrease from the 2012. In the 2014 the market is expected to grow 15%.
The government is giving new impulse to the sector aiming to welcome foreign investments and in August 2014 a deal was signed with the Iranian producer Iran-Khodro (IKCO) to import over 50.000 vehicles in the next years in order to renewal the country’s transport fleet especially with the low cost compact Samand as a taxi.
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 2020.
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 Ivory Coast Store