Affordable auto financing essential for OEM success in Africa

2016 was yet another challenging year for the African automotive industry, with much of the continent under pressure from unfavourable commodity prices and economic downturn. These have negatively impacted vehicle sales, with new vehicle registrations declining in many key markets over 2016 including Nigeria, Kenya, South Africa, and Algeria. The African passenger vehicle industry is faced with a crisis, as domestic demand for new cars continues to stumble.