Rwanda vehicles market falls due to the global pandemic affecting sales. Indeed, Full Year 2020 sales have been 665, down 12.2% compared to 2019. Volkswagen enters the podium swiftly and gains 12.7% market share.
Economic Environment
A quarter of a century after the Tutsi genocide, Rwanda’s economy appears to be thriving, with annual GDP growth averaging 7.76% between 2000 and 2019, and growth expected to continue at a similar pace over the next few years.
In light of the country’s chilling history, it is a curious state of affairs that Rwanda, a country once defined by death and conflict, has developed its economy to such an extent that it now aims to be an upper-middle-income country by 2035, and a high-income one by 2050.
Market Trend
The Rwandan vehicle market has been affected in 2020 by the global COVID-19 pandemic, which impacted sales significantly.
Rwanda vehicles market in recent years has been characterized by an unstable trend, with registrations fluctuating between 500 and 780 units. After the large loss reported in 2016 – when sales fell at 522 – the market immediately recovered, reaching a peak of 780 units sold in 2017. In 2018, sales have been flat, ending at 775.
In 2019, the market was hit by another marginal decline. Indeed, Total sales have been 758, down 2.1% from the previous year.
Full-Year sales for 2020 have been 665, reporting a 12.2% decrease compared to 2019.
Brand-wise, this year the leader Toyota (-15.7%) lost 1.9% market share, followed by Volkswagen, which grew impressively, gaining 12.7% share. Suzuki (-37.5%) was in the third position and lost 2.7% market share.
The most sold model in the country remains the Toyota Hilux with 179 sales (-19.4%), holding 26.9% market share.
