Mozambican vehicles market falls due to the global pandemic affecting sales. Indeed, Full Year 2020 sales are 3.281, down 21.4% compared to 2019. Toyota loses market share while its follower Ford grows slowly.
Economic Environment
Sequential data alludes to a very gradual recovery so far in H2, after the Covid-19 outbreak and associated lockdown sent GDP tumbling in Q2. Economic activity, as measured by sales volume, continued to firm from the prior month in August, propelled by stronger growth in the industrial and commerce sectors.
Additionally, the economic climate index crawled higher in September on improved employment conditions; that said, it still remains far below February’s peak before the pandemic started to take its toll. Meanwhile, although the private sector PMI climbed to a seven-month high in October, it still pointed to downbeat business conditions overall.
In other news, the World Bank approved a USD 100 million grant in late October and the EU greenlighted around USD 116 million in aid in early November to help the government address the ongoing socioeconomic impact of the pandemic.
Market Trend
The Mozambique vehicle market has been affected in 2020 by the global COVID-19 pandemic, which impacted sales significantly.
The Mozambican vehicle’s market is finally back on track, after an extremely weak 2015-2017 period of time, where registrations were almost only two-third of the 2014 volume. When the market had posted the all-time record in 2014 with 7.286 sales (including HCVs), nobody would have thought there could be a drop in sales at 2.478 units. Indeed, in 2018 the market started recovering with 3.817 units sold (+54%).
In 2019, the market signed the second consecutive annual growth. Indeed, Full-year registrations have been 4.172, up 9.3% from the previous year.
Full-Year sales for 2020 have been 3.281, reporting a 21.4% decrease compared to 2019.
Brand-wise, this year the leader Toyota (-23.2%) lost 0.5% market share, followed by Ford (-18.4%), which gained 0.5% share. Nissan (-24.1%) was in the third position and lost 0.4% market share.
The most sold model in the country remains the Ford Ranger with 424 sales (-21.5%), holding a stable 12.9% market share.
