• About
  • Advertise
  • Privacy Policy
  • Contact
Monday, August 4, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

SSA: Sale of commercial vehicles to boom in 2021

June 30, 2021
Stephen M.Cby Stephen M.C
in World, Africa
0
Commercial Vehicle sales to increase by 9.8% over 2021 in SSA

Fleet of trucks parked

Sub-Sahara African market for the sale of commercial vehicles is likely to improve over 2021, Fitch Solutions suggests.

The factors include delayed COVID-19 vaccine access, higher prices of vehicles and governments’ inability to continue providing fiscal support to consumers will draw some pressure on SSA region’s vehicle sales.

Moreover, Fitch Solutions forecast SSA region’s vehicle sales to see an increase by 9.7 per cent in 2021. This development comes after a decline in sales by 23.4 percent in 2020, reaching an annual sales volume of below 885, 000 units.

RelatedPosts

Farage Slammed For Spreading ‘Unevidenced’ Migrant Fears

UK Ties Palestine Recognition To Ceasefire Conditions

US To Require Up To $15,000 Bond For Some Business And Tourist Visa Applicants

In order to highlight in detail the components of the rise in commercial vehicle sales, Fitch Solutions expect passenger vehicle (PV) sales to increase by 9.8 per cent. And commercial vehicle (CV) sales to expand by 9.7 per cent.

That said, Fitch Solutions believe that there is more room for the region’s commercial vehicle sales segment. For the reason that it can experience higher sales growth rates over 2021. This is partly due to an expansion of fleets by fleet operators to get goods moving. Fleet operators will take this action since larger portion of vehicles are being tied up at ports and border crossings.

On the global level, vehicle prices are still rising as shipping rates inflation shows no signs of slowing. According to Fitch Solutions, vehicle supplies remain tight with shipping delays, vehicle component shortages and higher input costs, making the production of vehicles more expensive.

“This near-term trend together with the impact of higher unemployment and income erosion across the region’s key demand centres will result in fewer consumers in the SSA region being able to afford vehicles.”

Price to rise in importing countries of commercial vehicles

Also, weakening SSA currencies will also drive up the cost of imported vehicles, as well as imported completely knocked down (CKD) kits, Fitch solutions asserts. Apart from South Africa, the rest of SSA countries depend entirely on imported vehicles. This means that the changes in exchange rates will quickly feed through to higher vehicle prices.

Furthermore, countries such as Nigeria, Kenya, Ghana and Ethiopia which have nascent vehicle assembly operations still depend on imported CKD kits to produce vehicles. This will in turn become more expensive with weaker currencies.

These notwithstanding, Fitch Solutions believes that sale of commercial trucks in SSA have stronger growth potential.  

“We believe delays at border crossings and the expected increase in infrastructure spending will lead to higher demand for commercial vehicles (CVs) in the SSA region over 2021.”

Upon this basis, demand will further gain support from the rollout of vaccines which will see more commercial vehicles. This is acquired by countries through donations or increased purchases.

Fitch Solutions note that the demand for heavy commercial vehicles will likely see the strongest initial spike. This is most likely the case as fleet operators come under increased pressure to upgrade and expand their fleets.

Accordingly, CVs region will expand by a robust 9.8% in 2021, reaching an annual sales volume of just under 250,000 units.

Following this, Fitch Solutions note that there is room for additional upside risks to commercial vehicle sales.  And that is if countries in the SSA region start utilising infrastructure spending to boost employment and economic growth. This, most likely may come from public-private partnerships.

READ ALSO: Eco Bank Group Named 2021 African SME Bank of the Year

Tags: commercial vehiclesCOVID-19fleet operatorssales
Please login to join discussion
Previous Post

#WCW: Best dressed female celebrities at 22nd VGMA

Next Post

Pension benefits cannot be accessed over failure to merge SSNIT-NIA cards

[mc4wp_form id="1264"]

Related Posts

Bernard Bediako Baidoo
General News

Bediako Baidoo Wins NDC Akwatia Primary Ahead of By-Election

August 4, 2025
Farage Slammed For Spreading ‘Unevidenced’ Migrant Fears
UK

Farage Slammed For Spreading ‘Unevidenced’ Migrant Fears

August 4, 2025
A Painful Reminder Of Unresolved Hostage Situation
Opinions

If It’s Good Enough To Share Abroad, It Must Start at Home

August 4, 2025
UK Ties Palestine Recognition To Ceasefire Conditions
UK

UK Ties Palestine Recognition To Ceasefire Conditions

August 4, 2025
Olamide Reveals Music Executive Easier Path
Entertainment

Olamide Reveals Music Executive Easier Path

August 4, 2025
Shaibu Haruna Crowned ‘CEO of the Year – Fintech’ at 4th Ghana CEO Awards
Vaultz Business

Shaibu Haruna Crowned ‘CEO of the Year – Fintech’ at 4th Ghana CEO Awards

August 4, 2025
Bernard Bediako Baidoo
General News

Bediako Baidoo Wins NDC Akwatia Primary Ahead of By-Election

by Evans Junior OwuAugust 4, 2025
Farage Slammed For Spreading ‘Unevidenced’ Migrant Fears
UK

Farage Slammed For Spreading ‘Unevidenced’ Migrant Fears

by Lawrence AnkutseAugust 4, 2025
A Painful Reminder Of Unresolved Hostage Situation
Opinions

If It’s Good Enough To Share Abroad, It Must Start at Home

by Comfort AmpomaaAugust 4, 2025
UK Ties Palestine Recognition To Ceasefire Conditions
UK

UK Ties Palestine Recognition To Ceasefire Conditions

by Lawrence AnkutseAugust 4, 2025
Olamide Reveals Music Executive Easier Path
Entertainment

Olamide Reveals Music Executive Easier Path

by Esther Korantemaa OffeiAugust 4, 2025
Shaibu Haruna Crowned ‘CEO of the Year – Fintech’ at 4th Ghana CEO Awards
Vaultz Business

Shaibu Haruna Crowned ‘CEO of the Year – Fintech’ at 4th Ghana CEO Awards

by Stephen M.CAugust 4, 2025
Bernard Bediako Baidoo
Farage Slammed For Spreading ‘Unevidenced’ Migrant Fears
A Painful Reminder Of Unresolved Hostage Situation
UK Ties Palestine Recognition To Ceasefire Conditions
Olamide Reveals Music Executive Easier Path
Shaibu Haruna Crowned ‘CEO of the Year – Fintech’ at 4th Ghana CEO Awards
[/vc_row_inner]

Recent News

  • Bediako Baidoo Wins NDC Akwatia Primary Ahead of By-Election
  • Farage Slammed For Spreading ‘Unevidenced’ Migrant Fears
  • If It’s Good Enough To Share Abroad, It Must Start at Home
  • UK Ties Palestine Recognition To Ceasefire Conditions
  • Olamide Reveals Music Executive Easier Path
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.