Lesotho 2018. Toyota dominates a market surging to 20%

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Lesotho car
Toyota-Corolla_Hatchback-2019

Lesotho car market in 2018 grew up 20% following the previous year’s positive trend while standing below the 1.000 units. With near 70% of market share, Toyota held the crown ahead of IsuzuĀ and Nissan.

Lesotho is a small and mountainous country completely landlocked by South Africa, depending on a narrow economic base of textile manufacturing, agriculture, remittances, and regional customs revenue. About three-fourths of the people live in rural areas and engage in animal herding and subsistence agriculture, although Lesotho produces less than 20% of the nation’s demand for food. Agriculture is vulnerable to weather and climate variability. Lesotho relies on South Africa for much of its economic activity; Lesotho imports 90% of the goods it consumes from South Africa, including most agricultural inputs.

Lesotho cars market is largely based on used vehicles imported by South Africa with a very limited offer of new vehicles cars, addressed to the few private consumers able to sustain their cost and to public sector.

In recent years new vehicles market was stable below 1.000 units. After having registered a peak of 935 units in 2014, the declined two years in a row. However, in 2017 sales immediately recovered – improving 19% – with 737 units sold.

In 2018, the market kept the previous year’s trend. Indeed, the year ended with 881 sales, growing 20%.

The competitive landscape was of course dominated by light vehicles, mainly pickups. The market leader was Toyota, holding almost 70% of share, with 603 sales (+16%). In second position, Isuzu with a few units sold more tha Nissan.