Press Release

Led by South Africa, Africa Passenger Car Market to Surpass $ 19 Billion by 2023

Poor public transportation system coupled with growing disposable income to fuel demand for passenger cars across the African continent until 2023

According to TechSci Research report, Africa Passenger Car Market By Vehicle Type, By Engine Capacity, By Fuel Type, By Country, Competition Forecast & Opportunities, 2013 - 2023”, the market for passenger cars in Africa is projected to cross $ 19 billion by 2023 on account of rising disposable income across the region. Moreover, expanding product portfolio of various passenger car manufacturers and poor public transportation system across various major countries in the region is further expected to boost Africa passenger car market over the next five years. With more than one-third of the volume share, hatchbacks dominated Africa passenger car market in 2017, followed by sedan and SUV segments. SUV segment is expected to grow at a brisk pace during the forecast period owing to increasing spending potential of the region’s expanding middle and upper-middle class coupled with rising inclination towards SUVs.

Browse 55 Figures spread through 98 Pages and an in-depth TOC on "Africa Passenger Car Market"

In 2017, the region’s passenger car market was witnessed to be largely concentrated in South Africa, Egypt and Morocco, with a cumulative volume share of over 75%. Algeria was the fourth most prominent market in Africa passenger car market in 2017. Rising presence of various leading automobile companies such as Toyota, Honda, Volkswagen, Hyundai, Nissan, Renault, Ford, etc., and their continuing research and development to manufacture technologically advanced as well as efficient passenger cars coupled with their expanding product portfolio in the African continent is anticipated to intensify competition in the passenger car market across the region over the course of next five years.

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As several advanced features are being incorporated in the premium passenger cars, they are also being consistently brought in the economical passenger car segment as well. which is expected to result in a brisk growth of such passenger cars across the continent in the coming years. “With stabilizing economies and growing disposable income, demand for passenger car is likely to increase across Africa until 2023. Furthermore, increasing demand for efficient and affordable passenger car for transportation purposes is boosting demand for such cars across the region. In addition, growing preference for passenger cars running on higher capacity engines is also expected to positively influence Africa passenger car market in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Africa Passenger Car Market By Vehicle Type, By Engine Capacity, By Fuel Type, By Country, Competition Forecast & Opportunities, 2013 - 2023 has analyzed the potential of passenger car market across the African continent, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by Africa passenger car market. 

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Africa Passenger Car Market By Vehicle Type (Hatchback, Sedan and SUV/MPV), By Engine Capacity (Upto 1000cc, 1001-1500cc and Above 1500cc), By Fuel Type (Diesel, Gasoline and Others), By Country, Competition Forecast & Opportunities,

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The Africa passenger car market is driven by rapid urbanization and a growing middle class, resulting in increased demand for personal mobility solutions. Consumer preferences are shaped by the popularity of affordable entry-level cars, SUVs, and crossovers. Digitalization, online car sales platforms, and the interest in electric and green vehicles are fueling market growth and innovation in the automotive industry across the continent.

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