Zambia Vehicles sales in the 2016 recovered moderately after the previous year decline, mainly thanks to the demand on Heavy Trucks while car passenger’s and light commercial segment were stable. Toyota dominates the competitive landscape.
Zambia’s economy has come under strain in 2015 and 2016 as external headwinds and domestic pressures have intensified. Gross domestic product (GDP) growth slowed to 2.8% in 2015 from 4.9% in 2014. The external headwinds include slower regional and global growth, which have reduced global copper prices.
Domestic pressures include a power crisis from mid-2016 to early 2016, impacting all sectors of the economy, repeat fiscal deficits that have weighed on investor confidence, and low and poorly timed rains reduced agricultural incomes and increased food prices in 2015.
The World Bank forecasts that growth will remain at 2.9% in 2016, before improving in 2017 (4%) and 2018 (4.2%) as the power situation improves alongside higher better from both the agriculture and mining sectors.
The automotive industry is still small and mainly feed by imported used vehicles. Total vehicles sold in the 2016 had been 3.638, down 33% from the previous year and second losing year in a row. After the record hit in the 2013, with over 6.000 sales, the new vehicles is slow without real growing perspective.
Tables with sales figures
In the tables below we report sales for Top Brands
