Tanzanian Vehicles Market is falling down in the 2020. The already negative trend in place has been enhanced by Covid19 economic effect. Following a 12% lost reported for the first quarter, in April and May sales fell down 85%.
The fallout from the Covid-19 pandemic seems to be taking its toll on the economy in the second quarter, after growth likely remained robust in the first quarter of the year.
Following healthy export growth in Q1, the external sector will be suffering in Q2, as the pandemic has extinguished foreign demand for merchandise exports while tourist arrivals all but dried up amid travel restrictions and widespread lockdowns.
Domestic activity seems to have held up better thus far this year, as the government refused to implement a statewide lockdown, although investment activity and household spending are likely to falter in Q2 amid soaring sentiment.
Following the negative score reported in the previous year, in the 2020 the new light vehicles market in Tanzania is really negative.
The sentiment was already negative before the arrival of covid29, with first quarter closed with sales down 12%. Covid19 effects was to push down sales by over 85% both in April and May with year to date May figures still below the 1.000 units.
The recovery will be slow as the economic measures put in place by the government will not be much useful to help.
Tables with sales figures
In the tables below we report sales for top Brands