Lesotho 2017. Toyota near 70% of market share

Lesotho car

Lesotho car market in 2017 grew up 26% while standing below the 1.000 units. The country is not yet growing as necessary and the extremely low pro capita income does not allow the market growth. Toyota holds near 70% of market share.

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 consumer able to sustain their cost and to public sector. In recent years new vehicles market was stable below the 1.000 units, with a peak of 935 reached in the 2015. In the 2017 sales have been 784, up 26.9% from the previous year.

Sales 2012Sales 2013Sales 2014Sales 2015Sales 2016Sales 2017Sales 2018 e

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Of course, the competitive landscape is dominated by light vehicles, mainly pick ups and the market leader is Toyota, with near 70% of market share. Toyota registrations in the 2017 have been 536 (+21.5%) near 10 time more than the second, Ford.