Tanzanian Vehicles Market is almost stable in the 2019 and is projected near 2.200 sales. Indeed, in the first ten months of the year light vehicles sales have been 1.873, down 2.7% from the correspondent period last time. The top three brands, Toyota, Ford and Nissan control over 60% of the market.
Tanzania’s economy grew 7.2% year-on-year in the second quarter, marking the fastest expansion in over a year and up from the previous quarter’s 6.6% rise. A stronger jump in construction activity, coupled with a quicker expansion of manufacturing output compared to Q1, led the pick-up. Turning to the third quarter, incoming data is mixed. In the year ending September, the current account deficit widened notably as imports of capital and intermediate goods soared amid the government’s ongoing infrastructure projects. That said, exports of goods and services rose in the same period on stronger sales of gold and manufactured goods.
The new light vehicles market in Tanzania is almost stable in the range between the 2 and the 3.000 annual units, still penalized by the easy access of imported used vehicles.
In the last decade the market performed between the lower peak of 2.035 units in the 2016 and the higher of 3.314 in the 2013, with the 2018 at 2.258 units. We noted that the HCVs & Bus market is reporting a different trend with a steady growth and over 2.000 units sold in the 2018, the highest level ever.
In the 2019 the market is almost stable and projected near 2.200 units. Indeed, in the first ten months of the year light vehicles sales have been 1.873, down 2.7% from the correspondent period last time.
While the total market volume is stable, the competitive landscape is changing. Indeed, Toyota is on top of the ranking, as always, but in the last year have lost market share from a record of 52% in the 2014 to the 31% reported in the 2018. This year is stable.
In second place Ford with 16.3% of market share and in third Nissan, with over 16%, in recovery since the 2014, when hit the lowest peak, below 10%.
The top three brands control together over 60% of the market.
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