Africa Used Car Market to grow at a CAGR of 9.78% during the forecast period 2026–2030.
The growing demand for
affordable mobility solutions, increasing consumer preference for used vehicles
due to their lower costs, and the expansion of online platforms are the factors
driving the market in the forecast period 2026-2030.
According to TechSci
Research report, “Africa Used Car Market – By Country, Competition Forecast & Opportunities, 2020-2030F”, The Africa used car market was valued at USD
8.2 Billion in 2024 and is projected to reach approximately USD 14.3 Billion by
2030, expanding at a CAGR of 9.78% during the forecast period. The
Africa Used Car Market is experiencing a surge, with increasing demand for more
affordable vehicles. Economic factors in several African nations contribute to
a higher preference for used cars as consumers seek cost-efficient mobility.
Urbanization continues to push the demand for vehicles, especially used ones,
as they offer lower initial costs compared to new models.
The rise of online
platforms has significantly impacted the market, offering customers easier
access to a wide range of used cars. With the convenience and competitive
pricing provided by online sales channels, more buyers are opting for digital
platforms to purchase their vehicles, contributing to the market's growth. Despite
some challenges such as financing limitations and concerns about vehicle
condition, the increasing accessibility of used cars through online channels
and the growing need for economical transportation solutions will drive the
market forward. These factors are expected to shape the market's trajectory in
the coming years.
Browse over XX market data
Figures spread through XX Pages and an in-depth TOC on "Africa Used Car Market"
Africa
Used Car Market Is Segmented by Vehicle Type, Fuel Type, Sales Channel and By
Region.
The Africa Used Car Market
is divided into two primary sales channels: online and offline. The online
segment has witnessed rapid growth in recent years as consumers increasingly
turn to digital platforms for purchasing used vehicles. These platforms provide
a convenient and accessible way to explore various options, compare prices, and
finalize purchases without the need to visit physical dealerships. As internet
penetration improves across Africa, the online sales channel is poised to
become a more significant player in the market.
On the other hand, the
offline segment still holds a considerable share of the market, with
traditional brick-and-mortar dealerships continuing to serve as essential
points of sale. In many regions, particularly in rural areas, offline channels
remain the preferred option for consumers who may not be as comfortable
purchasing vehicles online. These dealerships often offer more personalized
services and opportunities for consumers to physically inspect cars before
making a purchase, making them an essential part of the used car buying
experience. As the market evolves, both sales channels will continue to
coexist, with the online segment likely to capture a larger share in the long
term due to the increasing digitalization of the African automotive industry.
Egypt is the
fastest-growing region in the Africa Used Car Market in 2024. The country has
seen a notable increase in demand for used vehicles, driven by its large
population, expanding middle class, and rising urbanization. The economic
landscape in Egypt has also contributed to the growth of the used car market,
with many consumers opting for second-hand vehicles due to their affordability
compared to new cars. In addition, the development of online platforms has made
it easier for consumers to access a variety of used vehicles, further driving
market growth. Furthermore, the government’s efforts to support the automotive
sector, including tax incentives and regulations favoring the importation of
used cars, have provided a boost to the market. With continued infrastructure
development and improved access to financing options, Egypt’s used car market
is expected to maintain its growth trajectory, outpacing other regions in 2024.
Major Market Players
Operating in Africa Used Car Market Are:
- Toyota
South Africa Motors (Pty) Ltd.
- Volkswagen Group
South Africa (Pty) Ltd.
- Ford Motor
Company of Southern Africa (Pty) Ltd.
- Mercedes-Benz
South Africa (Pty) Ltd.
- BMW South
Africa (Pty) Ltd.
- Nissan
South Africa (Pty) Ltd.
- Renault
South Africa (Pty) Ltd.
- Honda South
Africa (Pty) Ltd.
- Hyundai Automotive
South Africa (Pty) Ltd.
- AutoTrader
South Africa (Pty) Ltd.
Download Free Sample Report
Customers can also request
for 10% free customization on this report.
Government
regulations aimed at enhancing road safety and promoting sustainable mobility
are playing a pivotal role in shaping the growth of the Africa Used Car Market.
Policies that encourage the use of low-emission vehicles, along with stricter
inspection standards and emission control requirements, are guiding both
importers and consumers toward fuel-efficient, compliant car options.
Additionally, efforts to accelerate the adoption of hybrid and electric
vehicles, combined with investments in transport infrastructure, such as
improved road networks and traffic management systems, are influencing
purchasing trends. As African nations focus on reducing their environmental
impact and enhancing transport efficiency, there is an increasing shift toward
pre-owned vehicles that meet safety and environmental standards. This evolving
regulatory framework, alongside rising consumer awareness, is expected to drive
market growth in the forecast period, as consumers and businesses align with
emerging environmental goals", said Mr. Karan Chechi, Research Director of
TechSci Research, a research-driven global management consulting firm.
"Africa Used Car Market By Vehicle Type (Hatchback, Sedan, SUV, MPV), By Fuel Type (Petrol, Diesel, Hybrid, Electric), By Sales Channel (Online, Offline) and By Country, Competition Forecast & Opportunities, 2020-2030F”,
assesses the market's future growth potential and provides data on market size,
trends, and forecasts. It aims to offer comprehensive market insights, helping
decision-makers make informed investment choices. The report also highlights
emerging trends, key drivers, challenges, and opportunities in the Africa Used
Car Market.
Contact
TechSci Research LLC
420 Lexington Avenue, Suite 300,
New York, United States- 10170
Tel: +1-332-258-6602
Email: [email protected]
Website: www.techsciresearch.com