Malawi vehicles market in 2020 reports considerable losses as the pandemic influences sales. Indeed, 724 units were sold Year To Date August, losing 37.5% compared to last year. Toyota (-37.8%) remains the leader, followed by Ford (+9.5%). Volkswagen was the best performer, soaring 69.2%.
Malawi’s three-year pathway of fast economic growth has been interrupted by the COVID-19 (coronavirus) pandemic. The full extent of the pandemic’s negative impact is still uncertain as the crisis unfolds but the widespread impact of the COVID-19 crisis is expected to be felt in the fourth quarter and beyond, with reductions in tax revenue paired with increased expenditure on health and economic policy responses.
Malawi’s economy grew by 4.4% in 2019, a marked increase from 3.5% in 2018 supported by a rebound in agriculture production, as maize and key crops apart from tobacco increased.
Real gross domestic product (GDP) growth for 2020 was projected in September 2019 at 4.8% due to an expectation of the second consecutive year of strong harvests, offset by continuing political uncertainty weighing on business activity and investment.
Market Trend Year To Date
In Malawi 724 units have been sold until August 2020, reporting a loss of 37.5% 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 is in line with the market average (-37.8%), followed by Ford, gaining 9.5%, and by Nissan, losing 58.8%. The worst top 10 performance was registered by Mitsubishi, losing 77.4% sales, while Volkswagen soared more than any brand, with a 69.2% increase.
North Africa Car Market Outlook & Perspectives to 2025
Tuesday December 15, 2020
North Africa’s car market outlook is forecasted to be the fastest-growing in the World in the next 5 years, with a CAGR of 10.8% and a projected 678.000 units sold per year. Renault will remain the undiscussed leader and is expected to surpass 60.000 sales per year, followed by Volkswagen and Peugeot. The present situation […]
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Medium Terms Market Trend
Malawi’s new light vehicles market was in recent years is stable at still low-level as consumers prefer to buy used imported vehicles, more affordable for the low local income. After the peak of 1.777 sales achieved in the 2013, market is stagnating. In 2017 vehicles sales have been 1.636, down in double-digits, while in 2018 fell at 1.514.
In 2019, according to data released by the Association of Car Importers, the market registered a shy recovery. Indeed, Full-year sales have been 1.538, up 1.6% from the previous year.
In Q1 2020 415 units were sold, a 15.7% decrease compared to last year, illustrating an already weak market. Subsequently, in the First Half of the year, the market was heavily hit by the COVID-19 pandemic, leading First Half figures to 876 units with a loss of 50.9%.
Tables with sales figures
In the tables below we report sales for the Top 10 Brands
Just a special book: “There is no limit to the most complex things we will make.”
Monday October 26, 2020
I’ve read Kevin Kelly’s book What Technology Wants two times now, and often re-read highlights from the book, and I’m always discovering new things I missed before. I think one reason – among many – for the wonderful breadth and depth of his insights, is his ability to analyze technology as if it were a […]
The post Just a special book: “There is no limit to the most complex things we will make.” appeared first on Celadon Saigon.
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