Togo 2019. Vehicles market fell down 20.4%

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Togo Vehicles Market
Hyundai-Santa_Fe-2019

Togo Vehicles Market in 2019 the market was hit by a large drop. Indeed, total sales have been 444, down 20.4% from the previous year. Toyota has maintained over 20% of share, followed by Hyundai and Nissan, while Renault lost near 50%.

Republic of Togo is a long, thin sliver of territory, lies sandwiched between Ghana and Benin, with a 56 km coastline on the Gulf of Guinea, and a similarly short northern border with Burkina Faso. Its population is at least 7.6 million (2016).

Since 1960 independence from France, the country – officially a republic – is under the power of a family, with current President, Faure Gnassingbe, re-elected for a third, five-year term in 2015, which has taken the country under developed and currently among the poorest in the entire Africa.

After slowing in 2017, a reflection of political tensions and a sharp fiscal contraction, Togo’s economic growth picked up in 2018 to 4.9% (2.3% per capita). This recovery was driven largely by the rebound in public investment and robust growth in the services sector.  Growth was mainly driven by the recovery in industrial production and the fairly strong performance of the transport and telecommunications sectors. Increased public investment and private consumption also contributed to this solid performance

In such environment, the local automotive industry still has a marginal rule with the most of the circulating park fueled by the import of used vehicles. New vehicles market is very little, with the all time record hit in the 2015 when sales reached 708 units. In 2018, registrations marginally improved from the previous year, ending at 558 (+3%).

However, in 2019 the market was hit by a large drop (-20.4%) with full-year sales at 444.

In most recent years, Toyota has conquered the top of the ranking, and in 2019 maintained over 20% of share, followed by Hyundai and Nissan, while Renault – in 4th place – lost near 50% from the previous year.

Tables with sales figures

In the tables below we report sales for Top Brands

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