Rwanda’s auto market in 2022 totaled 646 sales, a 9.4% loss from the prior year. Q4 was the only slightly positive month with all the rest reporting double digit losses. Ford enters podium (+0.0%).
Market Trend and Outlook
Rwanda’s vehicle market in 2022 totaled 646 sales, a 9.4% loss from the prior year. Q4 was the only slightly positive quarter, while all the rest reported double-digit losses.
Looking at cumulative data from 2022 brand-wise, this year the leader is still Toyota with 49.4% market share despite being down 11.9% from the prior year. Mitsubishi rises 1 spot into 2nd while losing 6.5% in sales, in front of Ford, also up 1 spot, with a 0.0% year-on-year variation.
Medium-Term Market Trend
Rwanda vehicles market in recent years has been characterized by an unstable trend, with registrations fluctuating between 500 and 780 units. After the large loss reported in 2016 – when sales fell at 522 – the market immediately recovered, reaching a peak of 780 units sold in 2017. In 2018, sales have been flat, ending at 775.
In 2019, the market was hit by another marginal decline. Indeed, Total sales have been 758, down 2.1% from the previous year.
Due to the COVID-19 Pandemic full-Year sales for 2020 have been 665, reporting a decline of 12.2% compared to 2019.
Following the pandemic in 2021 the market reversed the downtrend, growing 7.4% to 714 total sales.