Ghanaian vehicles market in 2019 crumbled at the lowest level of the entire decade, below 6.000 units. Indeed, the Full-year ended with 5.702 registrations, down 20.8%. Nissan outpaced Toyota by less than 200 units, holding the crown with 23% of share.
Economic Environment
Ghana economic growth seemingly picked up traction in the final quarter of last year, following the third-quarter slowdown which was driven by downturns in the industrial and services sector. The PMI averaged slightly higher in Q4 than in Q3, signaling that business activity firmed up at the end of the year amid strong output and new orders growth.
Meanwhile, merchandise exports growth accelerated to an over one-year high in Q4, suggesting that the external sector bolstered overall growth. That said, a depreciating cedi might have curbed investment activity and household spending growth, as reflected by a dip in merchandise imports in Q4.
Market Trend
Ghanian vehicles market fell down to 5.347 units in 2015 – after hitting 11.788 sales in 2013 – due to effects of the economic recession. However, the market registered a robust recovery in the following years, when in 2017 sales ended with registrations at 9.150. In 2018, the market was hit by another strong sales’ decline (-21.4%) selling 7.193 units.
In 2019, light vehicles sales kept crumbling. Indeed, the Full-year ended with 5.702 registrations, down 20.8% from the previous year.
Brand-wise, Nissan and Toyota were fighting for the market lead. However, the former outpaced the latter by less than 200 units, holding over 20% of share.
Tables with sales figures
In the tables below we report sales for Top Brands
