Demand Analysis for Luxury Cars in Africa

Demand Analysis for Luxury Cars in Africa

Luxury Cars Surge in African Automotive Markets

RELEASE DATE
27-Oct-2016
REGION
Africa
Research Code: MBF6-01-00-00-00
SKU: AU01397-AF-MR_19135

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AU01397-AF-MR_19135

$3,000.00

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Description

As demand for premium and luxury cars increases in Africa's major automotive markets, understanding the trends, geographies, and factors impacting sales is necessary. This study investigates new luxury car sales in South Africa, Kenya, and Nigeria, with an emphasis on which luxury cars and sports utility vehicles (SUV) are selling well; why exotic original equipment manufacturers (OEM) have been slow to enter the markets; and why factors such as second-hand imports, infrastructure, and import tariff structures impact the success of OEMs in these markets.

Table of Contents

Key Takeaways

Current and Future Outlook

Research Scope

Research Aims and Objectives

Research Methodology

Market Segments Analyzed in This Research

Vehicle Segmentation

Market Definitions

GDP Growth Rate

GDP per Capita

Inflation, Lending Rates, and Unemployment

Corruption Index

African Urban Population by 2025

Market Maturity—Vehicle Sales and per Capita Vehicle Statistics

Vehicle Sales Hot Spots—Fastest Growing African Automotive Markets

Luxury and Premium Brands—South Africa, Kenya, and Nigeria

Luxury Vehicle Market—South Africa

Luxury Vehicle Market—South Africa: SUVs

Luxury Vehicle Sales—South Africa: SUVs and Production

Market Drivers—South Africa

Market Restraints—South Africa

Luxury Vehicle Sales—South Africa: Forecast

Luxury Vehicle Market—Kenya

Luxury Vehicle Market—Kenya: SUVs

Market Drivers—Kenya

Market Restraints—Kenya

Luxury Vehicle Sales—Kenya: Forecast

Luxury Vehicle Market—Nigeria

Luxury Vehicle Market—Nigeria: Purchase and Market Trends

Market Drivers—Nigeria

Market Restraints—Nigeria

  • HNWIs
  • Government and government employees
  • Luxury car rental
  • The hotel sector

Key Conclusions and Future Outlook

  • The economic climate
  • New car price inflation
  • Import duties on imported fully built units
List of Figures
  • 1. Total Luxury Car Market: Key Takeaways, Kenya, Nigeria, and South Africa, 2015
  • 2. Total Luxury Vehicle Market: Key Findings and Future Outlook, Kenya, Nigeria, and South Africa, 2015 and 2021
  • 3. Total Luxury Vehicle Market: GDP Growth Rate, Kenya, Nigeria, and South Africa, 2004–2014
  • 4. Total Luxury Vehicle Market: GDP per Capita, Kenya, Nigeria, and South Africa, 2004–2014
  • 5. Total Luxury Vehicle Market: Inflation, Lending Rates, and Unemployment, Kenya, Nigeria, and South Africa, 2015
  • 6. Total Luxury Vehicle Market: Corruption Index, Kenya, Nigeria, and South Africa, 2015
  • 7. Urban Population Forecast by Region: Africa, 1995–2025
  • 8. New Vehicle Sales: per Capita Vehicle Statistics, Africa, 2015
  • 9. Total Luxury Vehicle Market: New Car and Luxury Car Sales Map: Nigeria, Kenya, and South Africa, 2015
  • 10. Total Luxury Vehicle Market: Key Market Drivers, Africa, 2016–2021
  • 11. Luxury Opportunity Index: Global, 2005
  • 12. Wealth Level Forecast: Africa, 2013 and 2023
  • 13. Total Luxury Vehicle Market: Key Market Restraints, Africa, 2016–2021
  • 14. New Car Import Duties and Taxes: Africa, 2016
  • 15. Total Luxury Vehicle Market: Premium and Luxury Brands, South Africa, Kenya, Nigeria, 2016
  • 16. Luxury Vehicle Market: Vehicle Sales by Brand, South Africa, 2014 and 2015
  • 17. Luxury Vehicle Market: SUV Sales by Brand, South Africa, 2015
  • 18. Luxury Vehicle Market: Key Market Drivers, South Africa, 2016–2021
  • 19. Luxury Vehicle Market: Key Market Restraints, South Africa, 2016–2021
  • 20. Luxury Vehicle Market: Vehicle Sales by Brand, Kenya, 2015 and 2016 YTD
  • 21. Luxury Vehicle Market: SUV Sales by Brand, Kenya, 2015 and 2016 YTD
  • 22. Luxury Vehicle Market: Key Market Drivers, Kenya, 2016–2021
  • 23. Luxury Vehicle Market: Key Market Restraints, Kenya, 2016–2021
  • 24. Luxury Vehicle Market: Key Market Drivers, Nigeria, 2016–2021
  • 25. Luxury Vehicle Market: Key Market Restraints, Nigeria, 2016–2021
  • 26. Total Luxury Vehicle Market: Key Findings, Kenya, Nigeria, and South Africa, 2015
  • 27. Total Luxury Vehicle Market: Key Conclusions and Future Outlook, Kenya, Nigeria, and South Africa, 2015–2021
List of Charts
  • 1. Total Luxury Vehicle Market: GDP Growth Rate, Kenya, Nigeria, and South Africa, 2004–2014
  • 2. Total Luxury Vehicle Market: Sector Composition, Kenya, Nigeria, and South Africa, 2015
  • 3. GDP per Capita: Sub-Saharan Africa, 1960–2010
  • 4. Nominal GDP ($ Trillion): Africa, 2013–2025
  • 5. Luxury Vehicle Market: Luxury Segment Breakdown, South Africa, 2015
  • 6. Luxury Vehicle Market: Unit Sales Forecast, South Africa, 2013–2021
  • 7. Luxury Vehicle Market: Luxury Segment Breakdown: Kenya, 2015
  • 8. Luxury Vehicle Market: Unit Sales Forecast, Kenya, 2013–2021
Related Research
As demand for premium and luxury cars increases in Africa's major automotive markets, understanding the trends, geographies, and factors impacting sales is necessary. This study investigates new luxury car sales in South Africa, Kenya, and Nigeria, with an emphasis on which luxury cars and sports utility vehicles (SUV) are selling well; why exotic original equipment manufacturers (OEM) have been slow to enter the markets; and why factors such as second-hand imports, infrastructure, and import tariff structures impact the success of OEMs in these markets.
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Table of Contents | Executive Summary~ || Key Takeaways~ || Current and Future Outlook~ | Research Scope, Objectives, and Methodology~ || Research Scope~ || Research Aims and Objectives~ || Research Methodology~ ||| Secondary Research~ ||| Primary Research~ | Segmentation~ || Market Segments Analyzed in This Research~ || Vehicle Segmentation~ || Market Definitions~ | Economic Profile of Select African Countries~ || GDP Growth Rate~ || GDP per Capita~ || Inflation, Lending Rates, and Unemployment~ || Corruption Index~ || African Urban Population by 2025~ | Introduction to the African Car Market~ || Market Maturity—Vehicle Sales and per Capita Vehicle Statistics~ || Vehicle Sales Hot Spots—Fastest Growing African Automotive Markets~ | Drivers and Restraints for Luxury Car Sales in Africa~ || Market Drivers~ ||| The growing middle class~ ||| With the rise of the banked population~ ||| The high net worth individual (HNWI) population~ ||| Increasing investment levels and economic expansion~ || Market Restraints~ ||| High import tariffs on imported vehicles~ ||| Second-hand luxury car imports~ ||| Low dealership penetration~ ||| Poor road infrastructure~ | Luxury Vehicle Sales in Select African Countries~ || Luxury and Premium Brands—South Africa, Kenya, and Nigeria~ || Luxury Vehicle Market—South Africa~ || Luxury Vehicle Market—South Africa: SUVs~ || Luxury Vehicle Sales—South Africa: SUVs and Production ~ || Market Drivers—South Africa~ ||| HNWIs~ ||| Government and government employees~ ||| Luxury car rental~ ||| The hotel sector~ || Market Restraints—South Africa~ ||| The economic climate~ ||| New car price inflation~ ||| Import duties on imported fully built units~ || Luxury Vehicle Sales—South Africa: Forecast~ || Luxury Vehicle Market—Kenya~ || Luxury Vehicle Market—Kenya: SUVs~ || Market Drivers—Kenya~ ||| The HNWI population and associated demand for luxury goods~ ||| Luxury vehicle hire~ ||| The taxi industry~ ||| The hotel sector~ ||| The government~ || Market Restraints—Kenya~ ||| High import tariffs on imported vehicles~ ||| Second-hand luxury car imports~ ||| Vehicle financing~ ||| Poor road infrastructure~ ||| The government sector~ || Luxury Vehicle Sales—Kenya: Forecast~ || Luxury Vehicle Market—Nigeria~ || Luxury Vehicle Market—Nigeria: Purchase and Market Trends~ || Market Drivers—Nigeria~ ||| Brand-conscious consumers~ ||| The HNWI population and associated demand for luxury goods~ ||| The expanding hotel sector~ ||| Luxury car rental~ || Market Restraints—Nigeria~ ||| The slowing economic climate~ ||| Poor road infrastructure~ ||| Brand awareness~ ||| Second-hand luxury car imports~ || Key Conclusions and Future Outlook~ ||| Key Findings~ ||| Key Conclusions and Future Outlook~ ||| Five Major Growth Opportunities—African Vehicle Markets~ ||| Legal Disclaimer~ | The Frost & Sullivan Story~
List of Charts and Figures 1. Total Luxury Car Market: Key Takeaways, Kenya, Nigeria, and South Africa, 2015~ 2. Total Luxury Vehicle Market: Key Findings and Future Outlook, Kenya, Nigeria, and South Africa, 2015 and 2021~ 3. Total Luxury Vehicle Market: GDP Growth Rate, Kenya, Nigeria, and South Africa, 2004–2014~ 4. Total Luxury Vehicle Market: GDP per Capita, Kenya, Nigeria, and South Africa, 2004–2014~ 5. Total Luxury Vehicle Market: Inflation, Lending Rates, and Unemployment, Kenya, Nigeria, and South Africa, 2015~ 6. Total Luxury Vehicle Market: Corruption Index, Kenya, Nigeria, and South Africa, 2015~ 7. Urban Population Forecast by Region: Africa, 1995–2025~ 8. New Vehicle Sales: per Capita Vehicle Statistics, Africa, 2015~ 9. Total Luxury Vehicle Market: New Car and Luxury Car Sales Map: Nigeria, Kenya, and South Africa, 2015 ~ 10. Total Luxury Vehicle Market: Key Market Drivers, Africa, 2016–2021~ 11. Luxury Opportunity Index: Global, 2005~ 12. Wealth Level Forecast: Africa, 2013 and 2023 ~ 13. Total Luxury Vehicle Market: Key Market Restraints, Africa, 2016–2021~ 14. New Car Import Duties and Taxes: Africa, 2016~ 15. Total Luxury Vehicle Market: Premium and Luxury Brands, South Africa, Kenya, Nigeria, 2016~ 16. Luxury Vehicle Market: Vehicle Sales by Brand, South Africa, 2014 and 2015~ 17. Luxury Vehicle Market: SUV Sales by Brand, South Africa, 2015~ 18. Luxury Vehicle Market: Key Market Drivers, South Africa, 2016–2021~ 19. Luxury Vehicle Market: Key Market Restraints, South Africa, 2016–2021~ 20. Luxury Vehicle Market: Vehicle Sales by Brand, Kenya, 2015 and 2016 YTD~ 21. Luxury Vehicle Market: SUV Sales by Brand, Kenya, 2015 and 2016 YTD~ 22. Luxury Vehicle Market: Key Market Drivers, Kenya, 2016–2021~ 23. Luxury Vehicle Market: Key Market Restraints, Kenya, 2016–2021~ 24. Luxury Vehicle Market: Key Market Drivers, Nigeria, 2016–2021~ 25. Luxury Vehicle Market: Key Market Restraints, Nigeria, 2016–2021~ 26. Total Luxury Vehicle Market: Key Findings, Kenya, Nigeria, and South Africa, 2015~ 27. Total Luxury Vehicle Market: Key Conclusions and Future Outlook, Kenya, Nigeria, and South Africa, 2015–2021~| 1. Total Luxury Vehicle Market: GDP Growth Rate, Kenya, Nigeria, and South Africa, 2004–2014~ 2. Total Luxury Vehicle Market: Sector Composition, Kenya, Nigeria, and South Africa, 2015~ 3. GDP per Capita: Sub-Saharan Africa, 1960–2010~ 4. Nominal GDP ($ Trillion): Africa, 2013–2025~ 5. Luxury Vehicle Market: Luxury Segment Breakdown, South Africa, 2015~ 6. Luxury Vehicle Market: Unit Sales Forecast, South Africa, 2013–2021~ 7. Luxury Vehicle Market: Luxury Segment Breakdown: Kenya, 2015~ 8. Luxury Vehicle Market: Unit Sales Forecast, Kenya, 2013–2021~
Author Ryan Bax
Industries Automotive
WIP Number MBF6-01-00-00-00
Is Prebook No