Malawi’s vehicle market in 2022 grows after losing 8.9% in 2021. Sales reach 1,100, a 4.8% increase from the prior year.
Market Trend and Outlook
Malawi’s Vehicle market in 2022 grows after losing 8.9% in 2021. Sales reach 1,100, a 4.8% increase from the prior year.
Looking at cumulative data from 2022 Brand-wise, this year the leader is still Toyota with a 3.7% increase in sales, followed by Nissan up 2.7% from the previous year. Ford maintains 3rd spot gaining 2.4% in volume.
Medium-Term Market Trend
Malawi’s new light vehicles market was in recent years is stable at still low-level as consumers prefer to buy used imported vehicles, more affordable for the low local income. After the peak of 1,777 sales achieved in 2013, the market is stagnating. In 2017 vehicle sales have been 1,636, down in double-digits, while in 2018 fell at 1,514.
In 2019, according to data released by the Association of Car Importers, the market registered a shy recovery. Indeed, Full-year sales have been 1,627, up 7.5% from the previous year.
Due to the COVID-19 Pandemic, full-Year sales for 2020 have been 1,153, reporting a decline of 29.1% compared to 2019.
The downfall continued into 2021, that closed with 1,050 new vehicle registrations and an 8.9% loss in yearly volume.
