Angola Autos Report Q3 2015
Passenger car sales in Angola increased 37.8% in 2014, to 39,938 units, due to strong private consumptionin the country. We expect this positive growth story to continue, and forecast a 10% increase in passengercar sales in 2015. We expect inflation to moderate somewhat over the year, and access to credit for manyAngolans to improve, which should continue to boost car sales. Further, we expect the exchange rate toremain relatively steady, which should help to stabilise the cost of imported vehicles into the country andfurther boost sales.
As with many emerging markets, the used-car segment is far more substantial than the new car market. Weexpect this to remain the case for some time in Angola, as new cars remain unaffordable for most people.
In spite of the small size of the market, a large number of foreign brands are already doing business, withcompetition rife in the passenger car segment. Japan's Toyota Motor reportedly dominates the passengercar segment. The lower end of the market is dominated by Chinese firms such as Dongfeng-Nissan, a jointventure between China's Dongfeng Motors and Japan's Nissan Motor, which has been operating in Angolasince 2006. In addition to these brands, German companies such as Volkswagen, BMW and Mercedes-Benz have maintained a strong presence in the Angolan autos market.
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