Madagascar's auto sector expanded by 9.6 percent in 2021 increase in sales, registering dual sales growth in the second and third quarters. Renault posts the most unpleasant execution on the podium and sees its market share decline by 4.3 percent. This year, the car market in Madagascar expanded significantly.
The market recuperated in 2017 after a significant dip in 2016. However, registrations started to fall off in subsequent years. 2019 marked the second year in a row that declines. Total sales for the year were 1,894, a 5.1% decrease from the prior year.
Annual sales for last year have decreased by just 7.8 percent, equated to 2019 due to the coronavirus, reaching 1,751. As a result, the country's marketplace saw a relatively flat start to 2021; they were advertised, registering only a percent decline in transactions. However, deals began to increase significantly, recording a twenty-eight percent rise due to the minimum sales amount enrolled.
Sales increased by 16.7% and stayed flat in Q4, dropping just a percent. 1,919 annual transactions were reported for 2021, representing a ten % growth over 2020. In terms of brand share, Toyota, the dominant player this year, increased its share by 2.4 percent. Renault came in second place, losing 4.3 percent of the market. Ford finished in third place and increased its market share by 1.9 percent. With increasing sales and an eighteen percent market share, the Toyota Hilux remains the most popular vehicle in the nation.