Solomon Islands Vehicles Market in 2019 grew in double-digits. Indeed, Total sales have been 299, up 10.7%. The leader Toyota held over 40% of the market while Isuzu dropped sharply down (-23.1%). Hyundai and Nissan boomed.
Solomon Islands’ economy is based on agriculture, forestry and fisheries, which together account for around 40 per cent of GDP and provide employment for the majority of the population. Prior to the arrival of The Regional Assistance Mission to the Solomon Islands (RAMSI), severe ethnic violence, the closure of key businesses, and an empty government treasury culminated in economic collapse. RAMSI’s efforts, which concluded in Jun 2017, to restore law and order and economic stability have led to modest growth as the economy rebuilds.
In 2018, the market registered 270 units while in 2019 sales have grown in double-digits, ending the year at 299 (+10.7%).
In the competitive landscape, the leader Toyota held over 40% of the market in 2019, while the follower, Isuzu, dropped sharply down (-23.1%), ending at 23.4%. Impressive performances were registered by Hyundai and Nissan, more than doubling their sales from 2018.
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