Zimbabwe 2022. Vehicle Market Recovers From 2021 By Growing 7.3%

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The 2022 Toyota Mirai
The 2022 Toyota Mirai

Zimbabwe’s Auto market in 2022 grows 7.3% in yearly volume after losing 7.1% in 2021. The Top 3 best selling brands remain unchanged, with Toyota securing the throne at 22.0% market share.

Market Trend and Outlook

Zimbabwe’s car market in 2022 was able to grow 7.3% in yearly volume, following a 7.1% loss in 2021.

Looking at cumulative data from 2022 brand-wise, this year the leader Toyota secured 22.0% market share while growing 5.5%, followed by Tata up 7.2% in sales with 12.5% market share. Isuzu ranks in 3rd with 8.5% market share and a 4.2% increase in yearly volume.

Medium-Term Market Share

Zimbabwe’s new vehicles market grew up until 2013 when sales hit the record of 7.860 units, before to rapidly decline at 3,754 in 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 3,800 (+13.6%).

However, in 2019, the market fell below the 3,000 units sold, at the lowest volume of the entire decade. Indeed, Full-year sales have been 2,637, losing 42.8% from the previous year.

Due to the COVID-19 Pandemic full-Year sales for 2020 have been 2,603, reporting just a decline of 1.3% compared to 2019.

In 2021 the market fell further, losing another 7.1% with 2,417 new light vehicle sales.