Benin’s auto market ,after rising 36.5% in 2021, remained flat in 2022, totaling 800 new sales (+0.0%). Toyota maintains 48.3% market share.
Market Trend and Outlook
After rising 36.5% in 2021 Benin’s auto market in 2022 remained flat compared to the previous year, totaling 800 new sales (+0.0%).
Looking at cumulative data from 2022 brand-wise, the leader is still Toyota despite losing 2.9% from the previous year, followed by Suzuki with 10.0% market share, compared to Toyota’s 43.4%. Audi maintains 3rd spot also holding 8.0% market share.
Medium-Term Market Trend
The automotive industry is still quite marginal in the African landscapes. Indeed, we talk about new vehicle sales and not on second-hands trading activity for which the country is well-known.
The new vehicles’ market reached a peak of 1,143 units sold in 2016, while embarking on a negative pathway in the following years, with a moderate decline in 2017 (-5.7%) and a sharp fall in 2018 (-23.7%).
In 2019, the market reported the 3rd consecutive year-on-year decline, registering 756 units (-9.1%) at the lowest level since 2014.
Due to the COVID-19 Pandemic full-Year sales for 2020 have been 586, reporting a decline of 22.5% compared to 2019.
Following the pandemic the market in 2021 reported a 36.5% increase from the prior year with 800 cumulative new sales.
