Ghana's Autos market expanding

New market research report "Ghana Autos Report Q3 2012" worked out by Business Monitor International (BMI) has been recently published by Market Publishers Ltd. The market research report offers a comprehensive guide to the autos industry's performance in Ghana during Q3 2012. It provides granular SWOT analysis of the country's autos sector as well as its political, economic and business environment. Furthermore, detailed market segmentation, latest trends and developments, top companies' profiles, and the overall industry forecast scenario can also be found in the study. The report states that Ghana's autos market has grown rapidly in recent years owing to the economic growth and a developing middle class, and this momentum is expected to be sustained in 2012, with a projected 28% growth in vehicle sales.

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 Notwithstanding the country's small size, Ghana's autos market has grown rapidly in recent years owing to the economic growth and a developing middle class. And this momentum is expected to be sustained in 2012, with a projected 28% growth in vehicle sales, to 11,774 units. In addition to increasing personal spending power, government-led schemes, like re-equipping the police force with new vehicles, are also believed to bolster sales. However, there are risks of macroeconomic instability stemming from burgeoning oil revenues and the December 2012 election. With annual growth in GDP per capita unlikely to fall below double-digits over the next five years, taking the figure from USD 1,565 in 2011 to USD 2,876 by 2016-end, vehicle sales are expected to be a beneficiary.