Tanzania Automotive Sector Attracting Investment and is finally above pre-pandemic levels by 1.2%

Tanzania amid robust demand for automotive vehicles, numerous domestic and foreign manufacturers are planning to enlarge their production bases in Tanzania. Government of Tanzania also prioritizes the automotive segment as a vital revenue generator and is boosting flow of FDIs in automotive industry.

Tanzania is one of the most favourable and fastest developing automobile markets in the region. Tanzania automobile industry is reinforced by numerous factors such as labour availability, R&D efforts, geographic advantage and government support.

With optimistic outlook for economy and greater household purchasing power, the automobile sales in the country are set to witness resilient surge in sales.

Tanzania’s vehicle market in June 2021 finally make progress and surpasses pre-pandemic levels by 1.2 percent. In fact, 170 units have been sold in June (+93.2%), leading First Half sales at 1,060 units (+47%).

In June 2021 the Tanzanian market keeps growing after a 233.3 percent upsurge in sales the previous month, and reports 170 units sold (+93.2%), leading First Half sales at 1,060 units, a 47 percent increase in sales compared to 2020.  Compared to pre-pandemic levels the market is finally recovered, in fact, with respect to the performance in June 2019 sales are up 1.2 percent



Posted on : 27 Feb,2024 | News Source : ABNews

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