Africa: Passenger Car Market 2024

Passenger Car Market Size in Africa

The African passenger car market declined to $X in 2022, waning by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Passenger Car Production in Africa

In value terms, passenger car production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Passenger Car Exports

Exports in Africa

In 2022, exports of passenger cars in Africa soared to X units, jumping by X% against the previous year. Total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, passenger car exports expanded significantly to $X in 2022. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Morocco was the main exporting country with an export of around X units, which resulted at X% of total exports. It was distantly followed by South Africa (X units), generating a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Morocco (with a CAGR of X%).

In value terms, the largest passenger car supplying countries in Africa were South Africa ($X) and Morocco ($X).

Among the main exporting countries, Morocco, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in Africa amounted to $X per unit, which is down by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per unit), while Morocco totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (X%).

Passenger Car Imports

Imports in Africa

In 2022, approx. X units of passenger cars were imported in Africa; reducing by X% on 2021 figures. In general, imports saw a pronounced slump. The pace of growth appeared the most rapid in 2021 with an increase of X%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, passenger car imports shrank modestly to $X in 2022. Overall, imports saw a noticeable reduction. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

South Africa was the key importer of passenger cars in Africa, with the volume of imports resulting at X units, which was approx. X% of total imports in 2022. Libya (X units) took the second position in the ranking, followed by Morocco (X units), Egypt (X units), Kenya (X units) and Tunisia (X units). All these countries together took approx. X% share of total imports. Algeria (X units), Ghana (X units), Botswana (X units), Nigeria (X units), Ethiopia (X units), Zimbabwe (X units) and Djibouti (X units) followed a long way behind the leaders.

South Africa experienced a relatively flat trend pattern with regard to volume of imports of passenger cars. At the same time, Djibouti (X%), Ethiopia (X%), Kenya (X%), Morocco (X%), Egypt (X%) and Tunisia (X%) displayed positive paces of growth. Moreover, Djibouti emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2022. By contrast, Botswana (X%), Ghana (X%), Zimbabwe (X%), Libya (X%), Nigeria (X%) and Algeria (X%) illustrated a downward trend over the same period. While the share of South Africa (X p.p.), Morocco (X p.p.), Egypt (X p.p.), Kenya (X p.p.), Tunisia (X p.p.), Ethiopia (X p.p.) and Djibouti (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Libya (X p.p.), Nigeria (X p.p.) and Algeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported passenger cars in Africa, comprising X% of total imports. The second position in the ranking was taken by Morocco ($X), with an X% share of total imports. It was followed by Egypt, with an X% share.

From 2012 to 2022, the average annual growth rate of value in South Africa stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Morocco (X% per year) and Egypt (X% per year).

Import Prices by Country

The import price in Africa stood at $X per unit in 2022, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2020 an increase of X%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per unit), while Botswana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Algeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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