Africa Passenger Car Sales for 2016
In 2016, the African automotive market experienced mixed trends in car sales across different countries. Economic factors, currency fluctuations, and varying consumer preferences influenced the car sales landscape in Africa during that year. South Africa remained the largest car market in Africa in 2016, but it had its second straight year of double-digit sales declines, down to 361k new units. The country’s automotive industry faced some challenges, including a weaker rand, which impacted car sales.
Countries like Egypt, Morocco, and Algeria witnessed varying trends in car sales. Egypt’s automotive industry experienced decline, with softening local production and sales. Morocco’s efforts to attract foreign investment in its automotive sector continued to yield positive results, with car sales showing growth, a bright spot in the top ten African markets. Algeria, on the other hand, faced some challenges due to economic factors and a decline in oil prices, which impacted the purchasing power of consumers, driving new passenger car sales down 53% versus 2015. In Nigeria, car sales faced challenges in 2016 due to economic factors such as the decline in global oil prices, currency fluctuations, and a recession. These factors impacted consumer purchasing power, resulting in a slowdown in car sales. However, the market for imported used cars (Tokunbo cars) remained relatively stable due to their affordability.
