Angola: Passenger Car Market 2024

Passenger Car Market Size in Angola

The Angolan passenger car market soared to $X in 2021, rising by 28% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed a abrupt contraction. Passenger car consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Passenger Car Exports

Exports from Angola

In 2021, after two years of growth, there was significant decline in overseas shipments of passenger cars, when their volume decreased by -88.1% to X units. Over the period under review, exports recorded a abrupt contraction. The pace of growth was the most pronounced in 2016 with an increase of 344% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, passenger car exports dropped significantly to $X in 2021. Overall, exports faced a dramatic curtailment. The growth pace was the most rapid in 2016 with an increase of 250%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ghana (X units) and Nigeria (X units) were the main destinations of passenger car exports from Angola. Moreover, passenger car exports in Ghana exceeded the figures recorded by the second-largest exporter, Nigeria, twofold.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ghana (with a CAGR of +10.4%).

In value terms, the largest markets for passenger car exported from Angola were Ghana ($X), Nigeria ($X) and Democratic Republic of the Congo ($X), with a combined 75% share of total exports.

Ghana, with a CAGR of +26.9%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average passenger car export price amounted to $X per unit, with an increase of 7.9% against the previous year. In general, the export price, however, recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2020 when the average export price increased by 29% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per unit), while the average price for exports to Ghana ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Democratic Republic of the Congo (+22.2%), while the prices for the other major destinations experienced a decline.

Passenger Car Imports

Imports into Angola

In 2021, approx. X units of passenger cars were imported into Angola; picking up by 33% against the year before. Overall, imports, however, showed a abrupt setback. The growth pace was the most rapid in 2014 when imports increased by 106%. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, passenger car imports surged to $X in 2021. Over the period under review, imports, however, showed a deep reduction. The pace of growth appeared the most rapid in 2017 with an increase of 148% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X units), China (X units) and Japan (X units) were the main suppliers of passenger car imports to Angola, with a combined 52% share of total imports. These countries were followed by Belgium, South Korea, France, Cyprus, India, Indonesia, the UK, South Africa and the United States, which together accounted for a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Cyprus (with a CAGR of +49.0%), while imports for the other leaders experienced a decline.

In value terms, the United Arab Emirates ($X), China ($X) and Japan ($X) constituted the largest passenger car suppliers to Angola, with a combined 56% share of total imports. These countries were followed by Belgium, France, South Korea, the UK, India, Indonesia, South Africa, the United States and Cyprus, which together accounted for a further 28%.

Among the main suppliers, Cyprus, with a CAGR of +36.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average passenger car import price stood at $X per unit in 2021, falling by -7.2% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 67% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Cyprus ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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