Zimbabwe Vehicles Market is struggling hit by the fall of mineral prices, infrastructure and regulatory deficiencies and has lost the half of new vehicles volume in the last years with customer’s demand shifted back on used cars.
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 only 3.557 in the 2016, as the economic crisis moved demand on cheaper used vehicles, usually imported from South Africa.
In the 2017 the trend did not improved and the market fell down for the fourth year in a row with 3.345 sales, down 10.9% from the previous year.
Thanks to the off-road powerful line up and a presence in the market since 50 years, Toyota dominates the competitive landscape selling in the 2017 over 600 vehicles. Behind Isuzu and Ford.
Tables with sales figures
In the tables below we report sales for Top Brands