Ugandan Vehicles market in 2022 totaled 1,601 sales, a 4.1% increase from the prior year. The growth in Q3 and Q4 was able to offset the loss in the first half of the year.
Market Trend and Outlook
Uganda’s car market in 2022 totaled 1,601 new registrations, a 4.1% increase from the previous year. The loss in volume reported in Q1 and Q2 was offset by the strong growth in the last two quarters of the year.
Brand-wise, this year the leader Toyota grew 4.9% in sales compared to the previous one, followed by Nissan in second with a 3.2% surge in auto registrations. Volkswagen maintained 3rd position rising 7.7% in volume this year.
Medium-Term Market Trend
In 2017, total vehicle sales were 2,193 (-8.9%) while in 2018 the market marginally recovered with 2,231 units sold (+2.1%).
The vehicle market hit a new all-time high in 2019 after a tough period, reaching a peak of 2,555 units sold (including HCVs) and soaring 14.5% from the previous year. Indeed, the market is still really limited, representing only a marginal quota on the import of vehicles, and there are no signs of Government actions to limit the import of exhaust and obsolete used-vehicles. Additionally, an improved economic environment is not enough to sustain private consumer demand, considering the very low pro capita income.
Due to the COVID-19 Pandemic sales in 2020 totaled 1,815, reporting a decline of 29% compared to the previous year.
In 2021 sales fell 15.3% to 1,538, while in 2022 the market was able to recover 4.1% in volume and accumulated 1,601 sales.
Indeed, the market is still really limited, representing only a marginal quota on the import of vehicles, and there are no signs of Government actions to limit the import of exhaust and obsolete used-vehicles. Additionally, an improved economic environment is not enough to sustain private consumer demand, considering the very low pro capita income.
