Zambia 2017. Auto market recovers near 20%

190
Zambian Vehicles sales
Toyota-Land_Cruiser-2018

Zambian car sales up 19% in the 2017 following the modest economic recovery, mainly driven by double-digit export growth. The market is still far from the 2013 record and low competitive towards the segment of imported pre-owned.

Zambia’s economic growth likely gained modest momentum in 2017 to an estimated 3.9% (from 3.8% in 2016), supported by lower inflation, a recovery in copper prices and double-digit export growth.

The government has launched its 7th National Development Plan, 2017–2021,  calling for a fundamental shift in the way resources are allocated. It’s five pillars are: economic diversification and job creation, poverty and vulnerability, reduced developmental inequalities, enhancing human development and conducive Governance Environment for economic diversification.

Zambia’s new vehicles market in recent years have shown a trend not correlated with official economic index, growing when economy was suffering and falling when economy was recovering.

This unusual correlation with the domestic economy is probably depending by the strong import of used vehicles (near 90% of total new vehicles registered each year). When economy pushes up the demand for vehicles, people buy more vehicles in the low price range (used) while when purchase power is limited, only the upper class and government agencies keep purchasing vehicles.

The last years data shows a best sales level hit in the 2013, with 6.359 sales, while in the 2017 total vehicles have been 4.352, up 19.6% from the previous year, including 3.264 light vehicles and 1.088 HCVs and Bus.

Brand-wise, the market is dominated by Toyota, with 30.4% total market share.

Tables with sales figures

In the tables below we report sales for Top Brands

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