Zambia Autos Report Q1 2015

Business Monitor International
November 5, 2014
39 Pages - SKU: BMI5372113
Countries covered: Zambia

Zambia Autos Report Q1 2015

Our sales forecasts in volume terms have been given a significant increase, based on a change to historicdata showing that sales for 2012 and 2013 came in over 5,000 units. While we still expect strong growthover the five-year forecast period, the change in historical base now means that by the end of our forecastperiod in 2018, we expect sales of over 9,000 units, which is a big upgrade to our previous outlook. Webelieve the new car segment in Zambia, although still small, will be supported by growth in financing. Thiswill enable new brands to access the market and widen the competitive landscape.

We expect private consumption to be a key driver of growth in 2014 and 2015, forecasting 6.5% growth inboth years. This will be boosted by good harvests in the agricultural sector and with this being the case, wecould see some of this income being re-invested in new commercial vehicles. In the private sector, anotherincrease to wages in the 2014 budget, following a previous hike in September 2013, will contribute tohigher personal spending, which should be more beneficial to the passenger car segment.



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