The Ethiopia used car market was valued at 471 million in the current year and is projected to grow to USD 549.89 million by the next five years, registering a CAGR of 2.67% in terms of revenue during the forecast period.
Ethiopia's Used Car Market is dominated by several key players, including Megebeya.com, Cars 2 Africa, Proxima Auto Car Dealer, Nyala Motors, Ultimate Motors, and others. Rising adoption of various growth strategies, such as expansion, partnerships, etc., to improve their presence and revenue shares in the market. For instance,
In July 2023, the Ethiopian government introduced used car import duties and taxes in the country. The government imposed a high tax on imported vehicles.
In November 2022, Green Tech Ethiopia expanded its dealership network in Ethiopia. Green Tech is one of the second to officially enter the electric cars market in the country.
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