Madagascar Car Sales moderately declined in 2018 with 1.995 units sold, down 6.2% from the previous year. Toyota went again on top of the market with 22.8% of share, followed by Renault, Nissan and Mitsubishi.
Madagascar is a mostly unregulated economy with many untapped natural resources, but no capital markets, a weak judicial system, poorly enforced contracts, and rampant government corruption.
The country faces challenges to improve education, healthcare, and the environment to boost long-term economic growth. Agriculture, including fishing and forestry, is a mainstay of the economy, accounting for more than one-fourth of GDP and employing roughly 80% of the population.
Madagascar’s vehicles market has been characterized by an unstable trend in recent year. Indeed, after being hit by a large drop in 2016 the market immediately recovered, bouncing back in 2017 at 2.126 units.
However, in 2018, registrations have moderately declined. Indeed, Full-year sales have been 1.995, down 6.2% from the previous year.
In the competitive arena, Toyota went again on top of the market with 22.8% of share, followed by Renault, Nissan and Mitsubishi.
Tables with sales figures
In the tables below we report sales for Top Brands
