Sub-Saharan Africa vehicle sales growth slowed in 2023 but EV purchases stayed robust

Vehicle sales growth across sub-Saharan Africa is projected to slow from earlier forecasts, Semafor reported. Rising fuel costs triggered by the Iran war are the main reason for the reduced outlook. Electric vehicle purchases on the continent are still expected to remain robust.

In most African markets, Chinese EVs are priced the same as internal combustion engine alternatives, according to research firm BMI. Soaring fuel costs in import-reliant markets such as Kenya have strengthened the case for EVs among high-usage consumers and fleet operators.

Weak charging infrastructure, limited and unreliable electricity supply outside major cities, and high financing costs could still constrain wider adoption.