Jaguar Land Rover is aiming to grow its Sub-Saharan Africa business in six markets that are currently relatively small – Senegal, Côte d’Ivoire, Gabon, Congo-Brazzaville, Malawi, Mozambique. The luxury car manufacturer wants to increase sales in these countries by working closely together with local country partners.
Nigeria and Angola remain two of Jaguar Land Rover’s largest markets in Sub-Saharan Africa, with Angola, Ghana, Kenya, Mauritius, Nigeria, Tanzania, Zambia and Zimbabwe following.
Jaguar Land Rover is optimistic about future growth, as are some of its competitors. The ‘HowwemadeitinAfrica’ website reports that luxury car manufacturers have been increasingly expanding their operations in the African market. Their optimism is based on the reported growth of the number of high-net worth individuals (HNWIs) in Africa. As reported by ‘The Wealth Report 2015’, HNWI’s are predicted to grow 90% growth by 2024 in Nigeria, and 119% in Côte d’Ivoire.
BMW recently announced it will invest $417m to build its X3 sports utility vehicle in South Africa for export and local sales, while Porsche has set up dealerships in South Africa, Ghana, Nigeria, Angola and Kenya.
Further reading on howwemadeitinafrica.com
Image by Jaguar Land Rover