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Africa vehicle market investigation
Source: | Author:Michael | Publish time: 2019-08-08 | 191 Views | Share:
Since 2013 president Xi has submitted a cooperation proposal the establishment of “the Belt and Road Initiatives”, together build a shared profit, destiny and responsibility community which is politically mutual trust, economically blending and cultural inclusion. The “the Belt and Road Initiatives” has become a remarkable diplomatic name card of China and a world scope populated public product.

Since 2013 president Xi has submitted a cooperation proposal the establishment of the Belt and Road Initiatives, together build a shared profit, destiny and responsibility community which is politically mutual trust, economically blending and cultural inclusion. The the Belt and Road Initiatives has become a remarkable diplomatic name card of China and a world scope populated public product.

 

So far, more than 100 countries and international organizations has participated the the Belt and Road Initiatives cooperation, more than 90 countries already signed the Belt and Road Initiatives agreement with China. Africa continent with abundant natural resource, huge market potential and strong demand of infrastructure same as involved countries positively participated into the establishment of the Belt and Road Initiatives, during the programme the historical development opportunity has been realized and grabbed.


IMF estimated that between 2016 and 2020, Africa will become the second region with rapid economic growth in the world, the annual CAGR of GDP will reach 4.3%, which is just less the Asia new economic commodity 6.2%. according to McKinsey report, in 10 years capacity of manufacture in Africa could be double, the growth rate of capacity of manufacture is possible to be trible than historical growth rate.

New Silk Road Civil Enterprise Development Strategic Alliance African Studies Centre Mr. Wang mentioned that based on rapid development of large scope infrastructure and urbanization, double manufacture capacity and limited railway transportation, large demand of business vehicle is occurred in the region, the quantity of business vehicle in 2016 is 317533 which will increase to 538774 in 2025, CAGR is 6.1%. The annual growth rate of trade between Africa and China maintains 30%, China investment to Africa is 40% growth rate annually.     

 

Economist investigated that the business vehicle from China, such as FAW, Sino, Shan Xi Automobile, Dongfeng, Foton and so on, is cost effective and occupied the Africa market, these brands has become popular and contributed to engineering construction, as a result, Africa is the biggest foreign heavy duty truck market of China.


According to China Car Industry Association published that in 2017 sale statistic of business vehicle around the world, 332857 vehicle were sold in African region, which reduced 0.98%, but  the Belt and Road Initiatives involved economic commodities Kenya, Sudan, Tanzania, Zambia and Congo increased 17.46%, 42.38%, 37.45%, 155.57% and 43% respectively over the same period last year.