Ivory Coast Car Market registered a double-digit growth in 2019. Indeed, the Full-year ended at 11.165, surging 15.9%. Toyota managed to keep the throne – holding near 18% of share – ahead of the fast-growing Suzuki and Renault, holding respectively 16.8% and 9.8%.
Economic Environment
Côte d’Ivoire’s economic growth accelerated to a two-year high in the third quarter of 2019, amid a marked upturn in industrial output. On a less positive note, cooling retail sector activity in Q3 suggested consumer spending moderated in the quarter, likely curbing the acceleration somewhat.
Turning to the fourth quarter, available data paints a mixed picture. Business confidence weakened in October-November compared to the Q3 average, suggesting private sector activity continued to lose traction in the final quarter. On the other hand, average prices for cocoa, Cote D’Ivoire’s largest export commodity, rose in Q4 compared to Q3, boding well for the country’s external sector.
Market Trend
Light vehicles market development was steady in recent years and volume grew up from 7.500 in the 2012 to 9.637 in 2018.
In 2019, the market (cars+ LCV) registered another double-digit growth. Indeed, the Full-year ended at 11.165, surging 15.9%.
In the competitive arena, Toyota managed to keep the throne, holding near 18% of share, ahead of the fast-growing Suzuki. Renault held the podium, at 9.8% of share.
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