The car market in Lesotho is not huge and is ranked among the smallest in the world. It is at 99% supplied by cars coming from South Africa and Japan. The biggest sales were in 2014 before gradually falling down to 30% over the years.
A difficult environment
There is global growth in the automotive industry with consistent profits, but there are still uncertainties in Lesotho. People working in the industry are looking for the right means and market conditions that will help them to thrive in the sector. The presence of automobiles in Lesotho is perceived by the presence of known brands such as:
- General Motors
- Volkswagen, etc.
However, with considerable effort, the auto industry is expected to have far more impacts in the country. Experts think of a 4% growth in 2017. With a marked improvement in industrial progress, there is an upward growth and a better production in the Japanese market in particular.
A promising future for automobiles
The industrial strengths of the country can boost the development of the automotive sector in Lesotho. Some companies are now aiming to manufacture the vehicles on site instead of importing them from Japan. This industrial appeal opens up new opportunities and opportunities that are increasingly attractive. A developing country like Lesotho needs a strong industry for better economic growth, because the country's auto industry is linked to other sectors of the economy.
Several experts regard industrialization as one of the main factors in sustainable development in Lesotho. The sector is now facing several capital challenges, skilled labor and infrastructure that can change the business environment and even current government policy.