Malawi Auto Market in 2019 registered a shy recovery. Indeed, Full-year sales have been 1.538, up 1.6% from the previous year. Toyota kept dominating, reaching over 60% of market share, ahead of Nissan and Ford.
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. In 2017 vehicles sales have been 1.636, down in double-digits, while in 2018 fell at 1.514.
In 2019, according to data released by the Association of Car Importers, the market registered a shy recovery. Indeed, Full-year sales have been 1.538, up 1.6% from the previous year.
In the competitive arena, Toyota kept widening the gap from the followers, reaching over 60% of market share, ahead of Nissan and Ford, which held respectively 13.9% and 9.9%.
Service Solutions
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