Ivory Coast Vehicle Market in 2015 was shy albeit strong GDP increase. People still prefer to buy used cars due to the poor infrastructures and the still low pro capita income. However, the 2015 was the best ever sales year!
Country Outlook
The economy continued its robust two-year growth in 2014 at an estimated 8.3%, with similar expansion expected in 2015 and 2016, driven by internal and external demand. Public and private infrastructure investment and household consumption accounted for most internal demand, while external demand boosted commodity exports thanks to higher world prices.
Growth was also due to efforts under the national development plan (Plan national de development) to improve the business climate and speed up structural reform. The country thus became more attractive, especially for foreign direct investment.
The much better political situation is still held back by insufficient dialogue among the political forces. After some hesitation, the opposition parties finally joined the independent electoral commission (Commission électorale indépendante – CEI).
The government took other steps to calm the political climate: releasing pro-Gbagbo prisoners, allowing the return of high-level political refugees and unfreezing their bank accounts. The justice system, whether national or international, is still seen as biased by part of the population.
Market Outlook
The domestic market has not yet been driven up by the strong GDP increase performed by the country in the last years. Indeed, the main reason is inside the still really low pro capita income and the inadequate road infrastructures. People prefer to import pre-owned vehicles rather than take the risk of purchasing a new one.
Indeed the 2015 was the best ever year for the market albeit the growth was a disappointing 3.0% at 7.764 units.
While the market was stable the ranking changed radically with Hyundai losing the leadership having lost 5.1% of sales volume while Toyota boomed more than doubling sales taking the head of the market with 22% of share.
The third step of the podium changed as well with Mitsubishi overtaking Renault improving 19.4% and taking the 9.8% of share.
The best-selling model was the Toyota Hilux with over 800 units registered and 11.3% of market share. In second place the Mitsubishi L200 and in third the Mazda BT-50.
Research, Consulting, Data & Forecast Store
F2M covers intensively this market with several products developed to help any investigation required.
Market Researches in PDF are immediately available for download with study on the market since 2005 and with forecast up to the 2020.
Auto Data in EXCEL are immediately downloadable with annual sales volume, split by month, for all brands and all models distributed in the market. This year data are released year to date, but you will receive a monthly update until the year-end.
All these and more within our Ivory Coast Store
