Market Share of Ghana Automobile Industry
The Ghanaian automobile market is moderately fragmented, with a few players such as Toyota Motors, Nissan Motors, Suzuki Corporation, Hyundai Motors, Yamaha Motors, Bajaj Auto, and Hero Motorcycles, among others. Several players in the market are introducing various business strategies to gain a competitive advantage, which are expected to enhance the target market during the forecast period.
- October 2023: Ashok Leyland announced the completion of its maiden locally assembled Phoneix trucks at Rana Motors assembling plant in Accra. The company aims to take advantage of the government’s Automotive Manufacturing Development policy to ramp up its assembling activity in Ghana.
- April 2023: Ghana’s Jospong Group, a major conglomerate in the country, announced its collaboration with the US-based ZeroNox, which specializes in the electrification of commercial vehicles, to launch a massive electrification project involving 1,000 rubbish trucks. Under the signed joint venture agreement, 1,000 rubbish trucks from Zoomlion, a subsidiary of Jospong, would be retrofitted with ZeroNox’s latest EV platform and LFP batteries.
Ghana Automobile Market Leaders
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Toyota Motor Corporation
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Bajaj Auto Ltd
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Honda Motor Corporation
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Yamaha Corporation
*Disclaimer: Major Players sorted in no particular order
