Madagascar Car Sales signed the second consecutive year of decline in 2019. Indeed, Full-year sales have been 1.894, down 5.1% from the previous year. Toyota kept the crown with 21% of the market share, just a few units ahead of Renault.
Madagascar is a mostly unregulated economy with many untapped natural resources, but no capital markets, a weak judicial system, poorly enforced contracts, and rampant government corruption.
The country faces challenges to improve education, healthcare, and the environment to boost long-term economic growth. Agriculture, including fishing and forestry, is a mainstay of the economy, accounting for more than one-fourth of GDP and employing roughly 80% of the population.
Madagascar’s vehicles market has been characterized by an unstable trend in recent year. Indeed, after being hit by a large drop in 2016 the market immediately recovered, bouncing back in 2017 at 2.126 units. However, in the following years registrations started declining, and in 2018 fell 6.2% at 1.995 units.
In 2019, signed the second consecutive year of decline. Indeed, Full-year sales have been 1.894, down 5.1% from the previous year.
Brand-wise, Toyota kept the crown with 21% of the market share, just a few units ahead of Renault. Ford took the third place, followed by Nissan and Mitsubishi, all detaining less than 10% of share.
Tables with sales figures
In the tables below we report sales for Top Brands
