ETHIOPIA USED CAR MARKET

KEY FINDINGS 

1. The used car market in Ethiopia is 3X of new car market
2. The average price of used cars sold in Ethiopia is $30k-$40K USD,almost 2X of South Africa and significantly higher than other African countries.
3. The demand for automatic transmission equipped cars is much higher than manual cars. They are also sold at a premium compared to manual cars
4. Ethiopia is considering a law to ban import of more than 5 yr old vehicles in the country due to growing safety concerns and road accidents
5. Popular japanese cars are imported in the country via UAE and many of them have falsified documents where odometers are tampered to evade the 8 yr old rule
6. The long-standing exemption that allowed Ethiopian citizens returning permanently from overseas to import their vehicles was banned in Aug 23 and it immediately resulted in spike in used car prices by upto 15%

INTRODUCTION

Cars that have been previously owned and driven by one or more owners are referred to as used cars, pre-owned cars, or second-hand cars. After being bought and driven for a while, these cars are then sold on the used car market.

Older cars with higher mileage can be found alongside relatively newer models with low mileage. They are available in a range of makes, models, prices, and conditions.

The phrase “used cars” refers to a broad range of automobiles, including: Sedans are four-door passenger vehicles with a distinct trunk. SUVs (Sports Utility Vehicles) are larger vehicles with off-road capability as well as on-road capability. They provide roomy interiors and frequently have greater ground clearance.

Crossovers incorporate features from both cars and SUVs. Although they often offer a higher driving position and more cargo room than cars, they typically have a unibody chassis.

Hatchbacks have a rear door that opens up to reveal a cargo space and incorporates the rear window. They are renowned for their portability and small size. Coupes typically have two doors, a sporty exterior, and a sloping roofline. Cabriolets with retractable roofs, sometimes referred to as convertibles, provide drivers with an open-air driving experience.

Trucks: Used trucks include pickups and other commercial automobiles built for towing and cargo transportation. Vans: Vans come in a variety of sizes, including minivans, full-size vans, and cargo vans, and are used to transport people or goods. Sports Cars: These high-performance automobiles with powerful engines and aerodynamic designs are built for speed and agility.

Luxury Cars: Premium and high-end automobiles recognised for their comfort, cutting-edge amenities, and posh design are included in the category of luxury used cars.

Depending on the regional market, consumer demand, and personal tastes, different used cars may be available in different varieties. To ensure a trustworthy and satisfying purchase, it’s crucial to examine the vehicle’s condition, look up its history, and even have an expert inspection.

ETHIOPIA USED CAR MARKET SIZE AND FORECAST

The Ethiopia Used Car market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

ETHIOPIA USED CAR MARKET DYNAMICS 

The import of used vehicles continues to dominate the demand for vehicles in Ethiopia. The import laws should be taken into account when making an automobile purchase in Ethiopia. Ethiopia imposes hefty import taxes and value-added taxes (VAT), which drive up the price of buying an automobile.

It’s also crucial to examine the varieties of automobiles that are offered before making a purchase because some models and parts might not be offered in the nation. One of the most crucial factors to think about when buying an automobile in Ethiopia is maintenance and repairs.

Cars in Ethiopia experience wear and tear considerably more quickly than in other nations because of the bad road conditions and lack of infrastructure.It’s crucial to prepare for any necessary repairs and maintenance as well as to be aware of the restricted availability of some parts and services.

The price of fuel is another factor to think about when owning a car in Ethiopia. Fuel prices in Ethiopia are significantly cheaper than those in other nations due to government subsidies.

THIS ETHIOPIA USED CAR MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

1. How many Used Cars are manufactured per annum in Ethiopia? Who are the sub-component suppliers in different regions?
2. Cost breakup of a Ethiopia Used Car Market and key vendor selection criteria
3. Where is the Ethiopia Used Car Market manufactured? What is the average margin per unit?
4. Market share of Ethiopia Used Car market manufacturers and their upcoming products
5. Cost advantage for OEMs who manufacture Ethiopia Used Car Market in-house
6. key predictions for next 5 years in Ethiopia Used Car market
7. Average B-2-B Ethiopia Used Car market price in all segments
8. Latest trends in Ethiopia Used Car market, by every market segment
9. The market size (both volume and value) of the Ethiopia Used Car market in 2024-2030 and every year in between?
10. Production breakup of Ethiopia Used Car market, by suppliers and their OEM relationship