South Africa is largest market of commercial vehicles in Africa. The corporate fleet market in South Africa is estimated at 1.2 million vehicles. New vehicle sales in the next two largest markets -- Nigeria and Kenya -- have collapsed due to sluggish economies and depressed prices for commodities.
Currency Depreciation, Recession Cause Steep Decline in Nigerian Auto Sales
The sale of vehicles in Nigeria declined from 600,000 in 2015 to 350,000 in 2016, according to the Nigerian Automotive Manufacturers Association.