Africa may be one of the last untapped continents for automakers and one of the largest growth markets in the future. But the opportunity is now for carmakers such as Uganda-based Kiira Motors, Kenya-based Mobius Motors, Nigeria-based Innoson and Ghana-based Kantanka Motors, they say.
“The automotive industry presents one of the fiercest competitive market environments,” Kiira Chief Executive Paul Isaac Musasizi told the Wall Street Journal. “We need to remain focused, courageous and committed.”
His commitment is shared by other automakers such as Ford, who recently announced that it would produce 5,000 trucks at a plant in Nigeria for sale within the continent. Hyundai said they would invest $22 million to build an assembly plant in Nairobi and expand dealerships.
A cursory look at market penetration for automakers looks promising — no African country cracks the top 50 in vehicles per capita.