Africa Used Car Industry Overview
The African used car market is moderately fragmented, with a few key players in the market being Al-Futtaim Group, Autocheck, Abdul Latif Jameel Motors, Yallamotor, Carzami, AutoTrader, Cars 4 Africa, and others. The majority of players in the African used car market engage in fierce competition by employing a variety of developments and strategies to capture market share and attract customers. For instance,
In April 2023, Nigeria-based car selling and buying platform Autocheck acquired a majority stake in Egypt's used cars marketplace, AutoTager. The acquisition enables Autochek to deepen its presence in North Africa, starting with Egypt, the second-largest automotive market in Africa. The company currently has a presence in nine countries across East, West, and North Africa.
In September 2022, Egypt-based Carzami Inc., an online retailer for quality used cars and vehicle financing, announced the close of a pre-seed round led by contact financial holding, together with a scalable inventory financing facility, which it plans to use to transform Egypt's used car market targeting USD 30 million in revenue by 2024.
Africa Used Car Market Leaders
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Al-Futtaim Group
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Abdul Latif Jameel Motors
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AutoTrader South Africa
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Sylndr
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Cars45
- *Disclaimer: Major Players sorted in no particular order
