Africa ’ s automotive industry is on the rise !
Despite equating to 17 % of the world ’ s population , Africa accounts for only 1 % of the cars sold worldwide ; compared to China ( 30 %), Europe ( 22 %), and North America ( 17 %).
On average the continent has 44 vehicles per 1,000 ; compared to the global average of 180 and 800 in the United States ( US ).
But could 2021 be a sign of change ? Whilst Africa ’ s automotive market value ( US $ 28.45bn ) is roughly a quarter of the US ( US $ 114.6bn ) the industry is expected to continue to rise in the next five years .
“ Due to the rise of income levels in many African countries and the emergence of a middle class , Deloitte regards the continent as the final frontier for the global automotive industry . Given Africa ’ s population size and its positive economic outlook , automotive companies will be able to gain a competitive advantage by adopting a medium- to long-term view towards the continent ,” said Deloitte .
Morocco sees the biggest growth Committed to allocating US $ 7.76bn to the country ’ s infrastructure , Morocco ’ s automotive industry continues to grow ; exceeding more than 160,000 units sold , and creating over 220,000 direct jobs .
By 2022 , the industry is expected to contribute as much as 24 % to Morocco ’ s GDP . In addition the country has seen an increase of 10.77 % for new passenger vehicles , selling 400,000 cars to Europe .
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