90% of the vehicles imported into most African counties are used vehicles imported from Europe, Asia, and North America. This is because most people are not able to afford brand new vehicles that usually retail
from about $30,000. The main reason for this is the fact that the majority of people in these developing markets have lower incomes than people in developed nations. The vehicle financing market is not as well developed in many countries on the continent and there is a general lack of affordable vehicle financing.
These financial barriers mean that very few people can afford to buy a car. On the other hand, the public transport systems in many of these countries are not as efficient as they should be to meet the needs of the population. African countries still have very low levels of motorization compared to countries in the developed world. Only a handful of countries have motorization rates above. The majority of countries have rates below 50 passenger vehicles per 1000 people.
I am always looking into developments in the Chinese EV market because just as the Chinese manufacturers helped reduce the cost of solar panels over the past decade, Chinese EV companies look most likely to do the same in the EV market. Most people would really be ok with a decent practical car to get you from A to B quite comfortably and won’t mind missing out on some “bells and whistles.” There are now quite a few affordable city EVs in China that retail for less than $10,000.
Vehicles in this segment could also have a similar effect in Africa. But more questions have been coming from some sections asking whether this car could really stand some of the interesting roads we have in some of the urban centers in Africa? Would its low profile handle some of the very rough and extensively potholed roads? Is it even big enough for local use cases?
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