{"id":820,"date":"2022-08-15T11:51:38","date_gmt":"2022-08-15T11:51:38","guid":{"rendered":"http:\/\/dailykenya.co.ke\/?p=820"},"modified":"2022-08-15T11:51:38","modified_gmt":"2022-08-15T11:51:38","slug":"new-whitepaper-outlines-growth-for-ghana-ivory-coast-auto-aftermarkets","status":"publish","type":"post","link":"https:\/\/dailykenya.co.ke\/index.php\/2022\/08\/15\/new-whitepaper-outlines-growth-for-ghana-ivory-coast-auto-aftermarkets\/","title":{"rendered":"New Whitepaper Outlines Growth for Ghana, Ivory Coast Auto Aftermarkets"},"content":{"rendered":"\n

\u2018Enormous potential\u2019 for aftermarket suppliers of two African countries\u2019 as importation of vehicles, spare parts \u2018skyrocket\u2019; Report by German consultancy Africon indicates high demand from USA, Europe, or UAE \u2013 host of Automechanika Dubai  (www.AutoMechanikaDubai.com<\/a>) 2022<\/strong><\/p>\n\n\n\n

Download document:  https:\/\/bit.ly\/3AmaO3M<\/a><\/em><\/p>\n\n\n\n

A new whitepaper authored by Africon, the German consultancy firm that supports companies worldwide with business expansion in Africa, has outlined key insights into the automotive markets of Ghana and Ivory Coast.<\/p>\n\n\n\n

Among the data are details on the rise of imported vehicles as well as a growing spare parts market in the two countries, making the pair increasingly important in the African automotive aftermarket going forwards.<\/p>\n\n\n\n

The paper outlined that while Ghana and Ivory Coast are both smaller markets than the likes of African heavyweights Egypt, Nigeria, and South Africa, they hold enormous potential.<\/p>\n\n\n\n

Total vehicle imports into both countries skyrocketed in the past six years, with the value of light vehicles in Ivory Coast more than doubling and heavy vehicles almost doubling since 2016.<\/p>\n\n\n\n

In Ghana, growth has been slightly slower, yet figures remain impressive at an average of 11 percent and 10 percent annually for light and heavy vehicles respectively. For both countries, most of the total supply came from the USA, UAE, and Europe.<\/p>\n\n\n\n

Similarly, in Ivory Coast, despite the economic impact of the COVID-19 pandemic, the country\u2019s new light vehicle market growth in recent years has been relatively strong, with volume increasing from 7,500 in 2012 to relatively consistently more than 10,000 units over the past few years. In total, there are around 800,000 vehicles on the road in the country (excluding trailers, and two- and three-wheelers), while Ghana is home to approximately 1.2 million.<\/p>\n\n\n\n

\u201cSpare parts markets are equally growing for both countries,\u201d the whitepaper reads. \u201cWhile the Ghanaian parts market is around twice as large as that of its francophone neighbour, Ivory Coast has been catching up quickly with annual growth in imported parts increasing by almost 20 percent between 2015 and 2021. In Ghana, growth stands at \u2018only\u2019 10 percent per annum over the same period.\u201d<\/p>\n\n\n\n

Africon believes that with growing market sizes, the two countries are likely to be the focus of parts manufacturers, while the localisation of distribution infrastructure is likely to increase. As it stands, both Ghana and Ivory Coast have a very similar distribution structure, with global parts manufacturers supplying through international trading firms based often in the UAE or EU.<\/p>\n\n\n\n

E-commerce so far plays a rather limited role in both countries, the paper asserts. Foreign online platforms are sometimes used to import parts, especially due to a higher trust in foreign sources. For the resale within the countries, a vast majority of buyers prefer to \u201csee and touch\u201d the products before ordering. Additionally, logistical challenges to enable reliable e-commerce systems are yet to be solved. Nevertheless, many stakeholders believe in future solutions to these challenges and are increasingly keen to explore opportunities in the digital space in Africa.<\/p>\n","protected":false},"excerpt":{"rendered":"

\u2018Enormous potential\u2019 for aftermarket suppliers of two African countries\u2019 as importation of vehicles, spare parts \u2018skyrocket\u2019; Report by German consultancy Africon indicates high demand from USA, Europe, or UAE \u2013 host of Automechanika Dubai  (www.AutoMechanikaDubai.com) 2022 Download document:  https:\/\/bit.ly\/3AmaO3M A new whitepaper authored by Africon, the German consultancy firm that supports companies worldwide with business expansion […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-820","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/dailykenya.co.ke\/index.php\/wp-json\/wp\/v2\/posts\/820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailykenya.co.ke\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailykenya.co.ke\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailykenya.co.ke\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dailykenya.co.ke\/index.php\/wp-json\/wp\/v2\/comments?post=820"}],"version-history":[{"count":1,"href":"https:\/\/dailykenya.co.ke\/index.php\/wp-json\/wp\/v2\/posts\/820\/revisions"}],"predecessor-version":[{"id":821,"href":"https:\/\/dailykenya.co.ke\/index.php\/wp-json\/wp\/v2\/posts\/820\/revisions\/821"}],"wp:attachment":[{"href":"https:\/\/dailykenya.co.ke\/index.php\/wp-json\/wp\/v2\/media?parent=820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailykenya.co.ke\/index.php\/wp-json\/wp\/v2\/categories?post=820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailykenya.co.ke\/index.php\/wp-json\/wp\/v2\/tags?post=820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}