Congo 2017. Positive economic environment boost sales

Congo Republic vehicles market in the 2017 benefit from the recovery of oil price in the international market and a renovated positive economic environment which boosted new vehicles consumer’s demand. Toyota at 40% of share.

Republic of the Congo, also called Congo-Brazzaville, is a central African nation with rainforest reserves that are habitats for gorillas. Its capital city, Brazzaville, lies across the Congo River from Kinshasa, the capital of neighboring Democratic Republic of the Congo. Brazzaville’s highlights include traditional craft markets and the mid-20th-century Basilique Sainte-Anne, with a green-tiled roof and spire.

The Republic of the Congo’s economy is a mixture of subsistence farming, an industrial sector based largely on oil and support services, and government spending. Oil has supplanted forestry as the mainstay of the economy, providing a major share of government revenues and exports. Natural gas is increasingly being converted to electricity rather than being flared, greatly improving energy prospects.

The new vehicles market is still very little in the country, addressed by import of used vehicles from Europe and Middle East, and actually the annual sales of new cars represents less than 10% of total vehicles registrations.

In recent years the market was stable around the 2.000 annual sales, while in the 2017, the recovery of oil price in the international market, sustained internal demand boosting the registrations of new light vehicles at the new record of 3.304 units, up 74.3%, rebalancing the volume after two years of decline.

At brand-wise, with 40.9% of market share, Toyota is dominating the competitive landscape ahead of several Japanese brands. While Peugeot is represented ranking as sixth brand in the market, Renault, usually very active in Africa, specifically in the French-speaking countries like this, is not yet active, probably underestimating the market size.