Ivory Coast Car Market kept momentum in 2018 gaining 10% with 11.942 sales. Toyota held the throne with 17.1% of share, while Suzuki was the winner of the year, up a stunning 81.8%. The Toyota Hilux consolidated the market lead.
Côte d’Ivoire’s economy maintained strong growth in the fourth quarter of 2018. Upbeat domestic activity likely underpinned the expansion, as a pick-up in farmgate prices for the October–March harvest and subdued inflation are expected to have fueled household spending in the quarter. In addition, improved business conditions supported industrial production last year and enabled further development of agricultural-sector value chains.
New vehicles market development was steady in recent years and volume grew up from 7.500 in the 2012 to 10.942 in the 2018, of which almost 10% represented by HCVs. Indeed, sales improved by 10% from the previous year.
In the competitive arena, Toyota held the crown with 1.869 sales (+15.5%) and 17.1% of market share. However, in these years a strong player raised in second place with the announced ambition to gain the leadership. It is Suzuki, actually second with 1.187 units (+81.8%) and 10.9% of share, overtaking Renault with 1.049 (-9.8%).
In fourth place Mitsubishi with 1.044 (+15.3%), followed by Nissan and Hyundai.
At model wise, the best-selling was the Toyota Hilux with 779 sales (+12.2%) ahead of the Mitsubishi L200 with 634 (+6%) and in third the Renault Duster with 426 (-1.2%).
Market Outlook
After the steady growth of the last decade, the Côte d’Ivoire’s market is expected to be keeping a high speed during the 2019-2025 period of time. However, Political turmoil ahead of the 2020 presidential election remains a relevant downside risk.
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