Zimbabwe Vehicles Market grew 31.1% in 2018, after four consecutive years of decline, with 4.384 units sold. Toyota kept the crown – selling over 700 units – keeping a safe gap from Isuzu and Ford.
Zimbabwe’s economy depends heavily on its mining and agriculture sectors. Following a decade of contraction from 1998 to 2008, the economy recorded real growth of more than 10% per year in the period 2010-13, before slowing to roughly 4% in 2014 due to poor harvests, low diamond revenues, and decreased investment. Growth turned negative in 2016. Lower mineral prices, infrastructure and regulatory deficiencies, a poor investment climate, a large public and external debt burden, and extremely high government wage expenses impede the country’s economic performance.
Zimbabwe’s new vehicles market grew up until the 2013 when sales hit the record of 7.860 units, before to rapidly decline at 3.754 in the 2016 – as the economic crisis moved demand on cheaper used vehicles – and at only 3.345 in 2017.
In 2018, after four consecutive years of decline, the market started to recover. Indeed, the year ended with registrations at 4.384 (+31.1%).
In the competitive landscape, thanks to the off-road powerful line-up and a presence in the market for more than 50 years, Toyota has dominated, selling in the 2018 over 700 vehicles. Behind Isuzu and Ford.
After four consecutive years of decline, the Zimbabwe’s market has finally started to recover, scoring a positive performance in 2018. However, the market is seen to be keeping an unstable trend in the 2019-2025 period of time.
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