Cameroon vehicles market falls due to the global pandemic affecting sales. Indeed, Full Year 2020 sales are 2.641, down 19.5% compared to 2019. Toyota consolidates leadership while Renault (-46.9%) loses 2.1% market share.
Economic Environment
The economy likely remains in a tough spot in Q4, after floods in the country’s coastal region and low oil prices hit activity in Q3. A global surge in new Covid-19 cases and the reintroduction of some restrictions abroad spells trouble for external trade and tourism, while the ensuing slump in commodity prices exacerbates matters.
The low number of new domestic cases should sustain activity, although threats to political stability remain amid growing unrest in the country’s English-speaking areas. Tensions have risen in the buildup to the country’s first-ever regional elections on 6 December, with the ruling Cameroon People’s Democratic Movement set for victory amid calls from the opposition to boycott the vote.
Meanwhile, in late October, the IMF approved a new USD 156 million disbursement under the Rapid Credit Facility to help authorities address the impact of Covid-19
Market Trend
The Cameroon vehicle market has been affected in 2020 by the global COVID-19 pandemic, which impacted sales significantly.
Cameroon’s vehicles sector is still populated by imported used vehicles and is facing a negative trend, as new car registrations have declined by 600 near units during the last 3 years. Indeed, the market fell from 3.752 units in 2016 to 3.116 in 2017, while registering a flat performance in 2018 (+1.2% ) at 3.152.
In 2019, the market reported a shy recovery. Indeed, Full-year sales have been 3.279, up 4% from the previous year.
Full-Year sales for 2020 have been 2.641, reporting a 19.5% decrease compared to 2019.
Brand-wise, this year the leader Toyota (-14.9%) gained 2.9% market share, followed by Ford (+8.7%), which gained 1.4% share. Renault (-46.9%) was in the third position and lost 2.1% market share.
The most sold model in the country remains the Toyota Land Cruiser with 394 sales (+2.6%), holding 14.9% market share.
