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Ivory Coast 2020. Auto sales down only 2.8% Year to Date in August despite COVID-19

Cote d’Ivoire’s vehicles market in 2020 reports surprisingly a very small drop in sales. Indeed, 6.966 units were sold Year To Date until August, losing 2.8% compared to last year. Toyota  (+12.6%) maintains the leadership, while Nissan was the worst performer, with a 39.2% drop in sales. The rising star is Volkswagen, increasing its sales by 351.5%.
Economic Environment
Côte d’Ivoire’s economic growth accelerated to a two-year high in the third quarter of 2019, amid a marked upturn in industrial output. On a less positive note, cooling retail sector activity in Q3 suggested consumer spending moderated in the quarter, likely curbing the acceleration somewhat.
Turning to the fourth quarter, available data paints a mixed picture. Business confidence weakened in October-November compared to the Q3 average, suggesting private sector activity continued to lose traction in the final quarter.
On the other hand, average prices for cocoa, Cote D’Ivoire’s largest export commodity, rose in Q4 compared to Q3, boding well for the country’s external sector.
 Market Trend Year To Date
In Côte d’Ivoire 6.966 units have been sold until August 2020, reporting a loss of only 2.8% compared to last year. Nevertheless, COVID-19 cases were spiking from May to July.
Brand-wise, Toyota remains the leader and reports a 12.6% increase in sales, followed by Suzuki, losing 18.7%, and by Mitsubishi, losing 11.1%. The top 10 gainer was Volkswagen, with a whopping 351.5% increase in sales, while the worst top 10 performance was reported by Nissan, losing 39.2%.
Medium Terms Market Trend
 Light vehicles market development was steady in recent years and volume grew up from 7.500 in the 2012 to 9.637 in 2018.
In 2019, the market (cars+ LCV) registered another double-digit growth. Indeed, the Full-year ended at 11.165, surging 15.9%.
In Q1 2020 2.700 units were sold, a 0.1% increase compared to last year, illustrating a stable market. Subsequently, in the First Half of the year, the market was hit by the COVID-19 pandemic, leading First Half figures to 5.322 units with a loss of 3.7%.
 
Tables with sales figures
In the tables below we report sales for the Top 10 Brands

Mauritius 2020. Toyota menaces Nissan’s leadership in market down 25.3%
Wednesday September 30, 2020

Mauritius vehicles market in 2020 reports considerable losses as the pandemic influences sales. Indeed, 5.041 units were sold Year To Date August, losing 25.3% compared to last year. Nissan (-24.5%) remains the leader, closely followed by Toyota (-22.9%).  Economic Environment Real GDP growth was moderate yet steady, averaging 3.8% during 2015–19. Growth was mainly driven […]

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September Robinhood / stonks update
Friday September 25, 2020

Quick update… I took a small position in the VIX, the CBOE volatility index, with a view that as the election approaches and with structural weakness in both the US and global economy, we’ll see S&P 500 volatility rise and/or spike. Entry price of $28.31, so I’m currently down 7.5%. On Robinhood, I bot small […]

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