Tunisian vehicle market continues the negative path in the 2019 and is projected below the 48.000 units. Indeed, year to date October sales have been 37.555, down 14.2% from the previous year. Isuzu is market leader despite losing share from the 2018 record, while Renault & Volkswagen are the falling stars.
Tunisian economic growth slowed to an over three-year low in the third quarter, according to recently released data, with annual growth clocking 1.0%. The reading was weighed on by a continued contraction in industrial output, including in the important textiles sector, while the agricultural and service sectors remained key sources of growth. On the political front, the country’s new president tasked self-described independent Habib Jemli with forming a government in mid-November.
Economic growth is set to pick up in 2020 due to a rebound in industrial production, stronger private consumption and improving investment levels. However, a weak fiscal position and various vulnerabilities—in the form of soft momentum in the EU, security threats and volatile oil prices—pose downside risks to the outlook.
The Tunisian vehicles market in the last decade have been almost dynamic. In the period 2014-2017 the market hit the all record in sequence, despite data do not include a grey market, which is estimated in over 10% of the “official”. After the record of 63.678 units sold in the 2017, the market declined sharply in the 2018, hit by economic crisis, falling down at 52.601 (-17.4%).
The negative path has not been broken in the 2019 and the market is projected below the 48.000 units. Indeed, year to date October sales have been 37.555, down 14.2% from the previous year.
In the recent years, the weight of light commercial vehicles grew fast and the leader in this segment, the Japanese Isuzu was able to keep the total market leadership, increasing market share year after year up to a record of 13.6% in the 2018. In the 2019, it is declining below the 12%.
In second place the traditional market leader, Renault, which is now aggressively attacked by Kia with an head-to-head year end rush in place. However, Renault have lost over 10 points of share since the 2010. The same destiny for Volkswagen, actually ranking fourth and down 13.8 point of share since the 2010.
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