Malawi 2018. Toyota holding over 50% of a declining market

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Malawi Auto
Nissan-Qashqai-2018

Malawi Auto Market in 2018 keeps declining. Indeed, in 2018 registrations fell at 1.514 units. Sales are concentrated and Toyota is the dominator with over half of market share, near three times higher than all the other competitors.

 

Economic Environment

Up-coming election re-run will be delayed, owing to lack of funds and the coronavirus pandemic. A coalition government led by Mr Lazarus Chakwera is likely to win the delayed election. Economic growth in 2020 will be supported by a recovery in agriculture, however the external sector will suffer from depressed prices and both supply and demand shocks, owing to the coronavirus pandemic. Strong economic growth is expected in the 2021-24 period.

Market Trend

Malawi’s new light vehicles market was in recent years is stable at still low-level as consumer’s prefer to buy used imported vehicles, more affordable for the low local income. After the peak of 1.777 sales achieved in the 2013, market is stagnating and according to data released by the Association of Car Importers, in the 2017 vehicles sales have been 1.636, down in double-digits, while in 2018 falling at 1.514.

 

Sales are concentrated and Toyota is the dominator with over half of market share, near three times higher than all the other competitors.