Ghana Autos Report - Business Monitor International - Industry Reports

Ghana Autos Report

Ghana Autos Report - Business Monitor International - Industry Reports
Ghana Autos Report
Published Aug 06, 2016
27 pages — Published Aug 06, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

We forecast passenger vehicle first registrations to grow by -.- in ---- and at an annual average of -.- to ----. The current headwinds - in the form of a depreciating cedi, high levels of inflation and high interest rates - are the main drags on passenger vehicle growth. ...Further to this, high import taxes on the more popular imported used car market will dampen the outlook for the passenger vehicle market as the prices of these vehicles increase. Although price growth is expected to begin to moderate in ----, the consumer s buying power is being eroded by the high level of inflation in the economy, and therefore the tax imposed on imported used vehicles is pricing the consumer out of the market. The consumer in Ghana is currently experiencing an unfavourable economic environment. ...Over the long term we expect passenger vehicle first registrations to pick up significantly. Growth in per capita income will increase demand for banking, insurance and mortgages as the financial services sector

...The eradication of load shedding along with strict fiscal consolidation under the IMF programme will aid the creation of a sound investment environment. Our Infrastructure team forecasts that construction will grow by -.- in ---- and at an annual average of -.- to ----. Light commercial vehicle (LCV) first registrations are forecast to grow -.- in ---- and at an annual average of -.- over our --------- forecast period, while we expect heavy truck first registrations to grow -.- in ---- and at an annual average of -.- to ----. Growth in these two commercial vehicle segments will be supported by growth in the construction sector. ...The main driver of growth will be low base effects, due to --.- and --.- contractions in ---- and ---- respectively.

...We forecast total vehicle first registrations to grow -.- in ---- and at an annual average of -.- to ----. We have a long-term bullish view of the market, but there are headwinds that will provide short- to medium-term challenges to the autos market in Ghana. ...A large fiscal deficit due to the reliance of Ghana on commodity exports in a weak global commodity market has limited the government s ability to raise adequate revenue. However, the government s sound monetary policy and the passing of its second review under its International Monetary Fund (IMF) programme will help the country in its attempts to attain a sustainable growth trajectory. Adequate fiscal consolidation and easing investor confidence, as well as effective monetary policy implementation, will aid the autos sector as the economy regains traction. ...

  
Source:
Document ID
2047-9360
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Ghana Autos Report" Aug 06, 2016. Alacra Store. Dec 03, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Ghana-Autos-Report-2026-1493>
  
APA:
Business Monitor International - Industry Reports. (2016). Ghana Autos Report Aug 06, 2016. New York, NY: Alacra Store. Retrieved Dec 03, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Ghana-Autos-Report-2026-1493>
  
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