Ethiopia vehicles market in 2020 reports contained losses as the pandemic influences sales. Indeed, 812 units were sold Year To Date until August, losing 11.3% compared to last year. Toyota (+28.5%) remains the leader, followed by Ford -the top performer- with a 30.3% increase in sales.
The current fiscal year (July 2020–July 2021) got off to a rocky start after the pandemic hampered economic activity in the second half of FY 2019. Following protests in mid-August due to the detention of an opposition leader and regional disputes over government plans to build a dam in the Nile, political tensions worsened as the Tigray region—a key industrial area—defied the government’s ban on a parliamentary vote on 9 September.
Although the PM ruled out military intervention, avoiding further disruptions to activity, additional unrest could weigh on investor sentiment. Moreover, in early September, the U.S. temporarily paused part of its financial aid to the country due to a lack of progress in the Nile dam dispute. Meanwhile, on 21 August, authorities reached a staff-level agreement with the IMF for the first review of the extended credit facility, setting out a path for economic recovery.
Market Trend Year To Date
In Ethiopia 812 units have been sold until August 2020, reporting a loss of 11.3% 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 June.
Brand-wise, Toyota remains the leader and grows by 28.5% despite the difficult situation, followed by Ford, the top performer with a stunning 30.3% increase in sales, and by Lifan, losing 43.5%. The worst top 10 performance was registered by Nissan, losing 52.9% sales.
Medium Terms Market Trend
Ethiopian vehicles market in recent years has been revitalized by the presence of several small local assembly plants, built by Chines BYD, FAW, Lifan, Sinotruck and Geely, plus Toyota and, since 2017, Kia.
Despite the recent years’ positive economic environment, the Ethiopian market has deteriorated, dropping from near 4.000 units in 2015 to 2.034 in 2018.
In 2019, the market (including HCVs) declined again, marking the sixth annual loss in a row. Indeed, Full-year sales have been 1.935, down 4.9% from the previous year.
In Q1 2020 312 units were sold, a 10.3% 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 579 units with a loss of 15%.
Tables with sales figures
In the tables below we report sales for the Top 10 Brands
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Bolivia 2020. Market down over 40% as the country is heavily affected by the pandemic
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Bolivian vehicles market in 2020 plummeted while COVID-19 hit the country, and still haven’t recovered effectively yet. Indeed, 2.068 units have been sold in September (-17%), leading Year to Date sales at 11.626 units (-42.4%). The leader Suzuki holds 21.7% share. Economic Environment GDP shrank at a record annual pace of 21.7% in Q2 (Q1: […]
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