Madagascar’s Auto market in 2022 remains relatively flat compared to 2021, totaling 1,920 new sales (+0.1%). Renault grows 7.4% in volume while holding 16.6% market share.
Market Trend and Outlook
Madagascar’s car market in 2022 remains relatively flat after gaining 9.6% in 2021. With 1,920 new sales, the market is up 0.1% compared to the previous year.
Looking at cumulative data from 2022 brand-wise, this year’s leader remains Toyota down 2.7% with 26.5% market share, followed by Renault up 7.4% with 16.6% market share. Ford despite losing 2.0% in volume maintains 3rd spot in the ranking.
Medium-Term Market Trend
Madagascar’s vehicle market has been characterized by an unstable trend in recent years. Indeed, after being hit by a large drop in 2016 the market immediately recovered, bouncing back in 2017 to 2,126 units. However, in the following years registrations started declining, and in 2018 fell 6.2% to 1,995 total units sold.
In 2019, signed the second consecutive year of decline. Indeed, Full-year sales have been 1,894, down 5.1% from the previous year.
Due to the COVID-19 Pandemic full-Year sales for 2020 have been 1,751, reporting just a decline of 7.8% compared to 2019.
Following the pandemic Madagascar’s auto market in 2021 grew back 9.7% to 1,919 cumulative new sales.
