Tanzania Vehicles Market 2016 was again almost stable with a volume just below the 4.000 units, this time including the heavy commercial and bus data. While Toyota is leader among cars, Tata dominates the HCVs segment.
Despite sluggish private lending, Tanzania’s economy is likely to have expanded at a healthy pace last year on the back of strong infrastructure investment and subdued global oil prices, which more than offset a weaker showing from the agricultural sector due to poor weather.
The economy received a boost in early March 2017 after the Central Bank slashed interest rates from 16.0% to 12.0%, a move advocated by the IMF. The decision is aimed at counteracting the sharp slowdown in private sector credit growth observed last year as a result of greater non-performing loans, and should spur economic growth going forward.
Tanzanian new vehicles market still has a marginal rule in the country as over 95% of vehicles are imported as over-aged used from outside.
The new vehicles are reserved at a small portion of consumer’s and this explain the not existing relation shown in recent years between new sales and economy. However, in the 2016 the new vehicles market was losing further terrain reporting only 3.091 sales (including HCVs and Bus)
The market leader was Toyota dominating the light vehicles segments with 1.236 sales while Tata is the leader of the HCV sector with 877 sales (including few pick ups and cars).
Tables with sales figures
In the tables below we report sales for top Brands
