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Cape Verde. Auto sales plummet 38.7% in sales Year to Date in August 2020 while Volkswagen soars 170%

Cape Verde vehicles market in 2020 reports considerable losses as the pandemic influences sales. Indeed, 315 units were sold Year To Date until August, losing 38.7% compared to last year. Renault  (-45.1%) remains the leader, closely followed by Toyota (-12.4%). Volkswagen was the best performer, soaring 170%.
Economic Environment
Cape Verde’s economic growth momentum remains strong with real GDP growth estimated at 5% in 2019, thanks to robust activity in the industry, fisheries, commerce, and tourism.
Public investment’s impact on growth underperformed its potential due to inefficiencies in the large parastatal sector, which resulted in high public debt. Fiscal consolidation was put in place to counter debt, including a 3% of GDP cap on domestic borrowing.
Market Trend Year To Date
In Cape Verde 315 units have been sold until August 2020, reporting a loss of 38.7% compared to last year. This negative trend in the market reflects the impact of the pandemic in the region, where infections started growing exponentially in April.
Brand-wise, Renault remains the leader despite losing more than the market average (-45.1%), followed by Toyota, losing 12.4%, and by Suzuki, losing 34.8%. The worst top 10 performance was registered by Kia, losing 70.6% sales, while Volkswagen soared more than any brand, with a 170% increase.
Medium Terms Market Trend
Cape Verde’s vehicles market has registered a sharp growth during the last year. In 2018 registrations ended at 450 units, while in 2019 the market reported strong growth. Indeed, Full-year sales have been 750, booming 66.7% from the previous year.
In Q1 2020 148 units were sold, a 22.9% decrease compared to last year, illustrating an already contracting market. Subsequently, in the First Half of the year, the market was hit by the COVID-19 pandemic, leading First Half figures to 194 units with a loss of 49.1%.

Ivory Coast Autos Market Report 2010-2025
Saturday September 19, 2020

Ivory Coast Autos Market Report 2010-2025 features historical data and insights plus professional forecast on new vehicles sales by type, manufacturer, brand and model providing an easy-to-use picture of current and future competitive landscape. Research Contents Focus2move Automotive Market Reports provide a comprehensive and extensive overview about this market including information on the cars and light commercial market […]

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Tables with sales figures
In the tables below we report sales for the Top 10 Brands

Netherlands 2020. Best selling cars ranking
Friday October 02, 2020

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