Zambian vehicles market fell back down in 2019 after three consecutive years of growth. Indeed, Full-year registrations have been 3.376, down 12.5%. Toyota dominated with over 35% of share, keeping a safe gap over Isuzu and Nissan.
Zambia’s economy likely remained in a dire situation in H2 2019, after growth slumped to a three-and-a-half-year low in Q2 2019.
Severe drought conditions continued to restrain output at hydropower dams, weighing on the agricultural harvest and seemingly undercutting household spending growth in turn. Externally, the picture was similarly bleak: Merchandise exports contracted sharply in H2 amid faltering global copper demand.
Zambia’s new vehicles market in recent years have shown a trend not correlated with official economic index, growing when economy was suffering and falling when economy was recovering.
This unusual correlation with the domestic economy is probably depending on the strong import of used vehicles (near 90% of total new vehicles registered each year). When economy pushes up the demand for vehicles, people buy more vehicles in the low price range (used) while when purchase power is limited, only the upper class and government agencies keep purchasing vehicles.
After three consecutive years of growth, in 2019 the market fell sharply down. Indeed, Full-year registrations have been 3.376, down 12.5%.
Brand-wise, Toyota held over 35% of share, keeping a safe gap over Isuzu and Nissan, both detaining near 10% of the market.
Tables with sales figures
In the tables below we report sales for Top Brands
