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Report Ghana - Passenger Cars - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

Ghana - Passenger Cars - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Passenger Car Market 2024

Passenger Car Market Size in Ghana

The Ghanian passenger car market surged to $X in 2021, increasing by 108% 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 enjoyed a tangible increase. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Passenger Car Exports

Exports from Ghana

In 2021, overseas shipments of passenger cars decreased by -33.9% to X units for the first time since 2018, thus ending a two-year rising trend. In general, exports showed a slight decline. The most prominent rate of growth was recorded in 2019 with an increase of 378%. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, passenger car exports contracted to $X in 2021. Overall, exports showed a mild reduction. The pace of growth appeared the most rapid in 2014 with an increase of 93% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Benin (X units) was the main destination for passenger car exports from Ghana, with a 119% share of total exports. Moreover, passenger car exports to Benin exceeded the volume sent to the second major destination, Nigeria (X units), threefold. The third position in this ranking was held by Germany (X units), with a 22% share.

From 2012 to 2021, the average annual growth rate of volume to Benin stood at +34.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (-30.8% per year) and Germany (+9.1% per year).

In value terms, Benin ($X) emerged as the key foreign market for passenger cars exports from Ghana, comprising 44% of total exports. The second position in the ranking was held by Nigeria ($X), with a 16% share of total exports. It was followed by Germany, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Benin totaled +31.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (-30.6% per year) and Germany (+49.3% per year).

Export Prices by Country

In 2021, the average passenger car export price amounted to $X per unit, rising by 33% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 43%. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Angola ($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 the United States (+27.3%), while the prices for the other major destinations experienced mixed trend patterns.

Passenger Car Imports

Imports into Ghana

Passenger car imports into Ghana surged to X units in 2021, with an increase of 145% compared with the year before. In general, imports recorded buoyant growth. The pace of growth appeared the most rapid in 2015 with an increase of 355%. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, passenger car imports soared to $X in 2021. Over the period under review, imports posted a perceptible increase. The pace of growth appeared the most rapid in 2015 when imports increased by 212%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X units) constituted the largest supplier of passenger car to Ghana, accounting for a approx. 27% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates stood at +39.7%.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of passenger cars to Ghana.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates totaled +35.6%.

Import Prices by Country

The average passenger car import price stood at $X per unit in 2021, dropping by -42.4% against the previous year. In general, the import price continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2016 when the average import price increased by 165%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2021, the rate of growth in terms of prices for the UK amounted to +6.4% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of passenger car consumption in 2021 were China, India and the United States, together accounting for 42% of global consumption. The Netherlands, Japan, the UK, France, Indonesia, Mexico, Italy, Brazil, Russia and Turkey lagged somewhat behind, together comprising a further 32%.
The countries with the highest volumes of passenger car production in 2021 were China, India and Thailand, with a combined 47% share of global production.
In value terms, the United States constituted the largest supplier of passenger car to Ghana, comprising 37% of total imports. The second position in the ranking was occupied by the United Arab Emirates, with a 13% share of total imports. It was followed by South Korea, with an 11% share.
In value terms, Togo, Gambia and Germany were the largest markets for passenger car exported from Ghana worldwide, together accounting for 32% of total exports.
The average passenger car export price stood at $30,823 per unit in 2021, waning by -19.9% against the previous year.
The average passenger car import price stood at $31,988 per unit in 2021, increasing by 8.7% against the previous year.

This report provides an in-depth analysis of the passenger car market in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 29102100 - Vehicles with spark-ignition engine of a cylinder capacity. 1 .500 cm., new
  • Prodcom 29102230 - Motor vehicles with a petrol engine > 1 .500 cm. (including motor caravans of a capacity > 3 .000 cm.) (excluding vehicles for transporting . .10 persons, snowmobiles, golf cars and similar vehicles)
  • Prodcom 29102250 - Motor caravans with a spark-ignition internal combustion reciprocating piston engine of a cylinder capacity > 1 .500 cm. but . 3 .000 cm.
  • Prodcom 29102310 - Motor vehicles with a diesel or semi-diesel engine . 1 .500 cm. (excluding vehicles for transporting . .10 persons, s nowmobiles, golf cars and similar vehicles)
  • Prodcom 29102330 - Motor vehicles with a diesel or semi-diesel engine > 1 .500 cm. but . 2 .500 cm. (excluding vehicles for transporting . .10 persons, motor caravans, snowmobiles, golf cars and similar vehicles)
  • Prodcom 29102340 - Motor vehicles with a diesel or semi-diesel engine > 2 .500 cm. (excluding vehicles for transporting . .10 persons, motor caravans, snowmobiles, golf cars and similar vehicles)
  • Prodcom 29102353 - Motor caravans with a compression-ignition internal combustion piston engine (diesel or semi-diesel) of a cylinder capacity > 1 .500 cm. but . 2 .500 cm.
  • Prodcom 29102355 - Motor caravans with a compression-ignition internal combustion piston engine (diesel or semi-diesel) of a cylinder capacity > 2 .500 cm.
  • Prodcom 29102400 - Other motor vehicles for the transport of persons (excluding vehicles for transporting . .10 persons, snowmobiles, golf cars and similar vehicles)
  • Prodcom 29102410 -
  • Prodcom 29102430 -
  • Prodcom 29102450 -
  • Prodcom 29102490 -

Country coverage:

  • Ghana

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Ghana
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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