Analyze the market in Libya for Telsa cars/products, and see what the other competitors might be....

Analyze the market in Libya for Telsa cars/products, and see what the other competitors might be. Also, estimate the market size and the government regulations in Libya.

Expert Solution

With the revolution that led to the fall of the Gaddafi-regime, foreign investors have become aware of Libya as an attractive place for investment.

In fact, Libya is the wealthiest country in North Africa and the only one with a constant budget surplus. Through its oil-resources Libya has a very good position to generate cash over the course of the next decades. The Libyan population, a little more than 6 mio, is wealthy compared to its neighbours and Libya has been a place for foreign workers to go to in order to find jobs.

Due to the wealth of the public and private sector, Libya’s automotive market is very interesting. The market, so far, is underdeveloped and underserved in every aspect. There is almost no automotive industry with the exception of an Iveco-JV with the Libyan government and a state-owned trailer-factory. There is a very limited number of suppliers for simple parts. Everything else is imported.

There is a limited number of OEM present in Libya through local distributors. The new passenger car market as well as the new commercial vehicle market is not developed well. With more stability and a growing economy there are excellent chances for OEM to gain a significant market share.

The aftermarket is very fragmented and also original service is only offered in major cities. The parts market is dominated by smaller importers and distributors selling partly original parts and partly counterfeits. With one of the highest car penetrations in Africa, the Libyan aftermarket is very promising.

Libyan car sale in 2019 was 22,000. The market expected to grow at the rate of 25%. Every year the car sales are hiking so this will be a good news for car companies like Tesla. And also there is no prominent competition existing in the electric car segment. All these facts says that Libya will be growing market for a innovative company like Tesla.

Rahul Sunny answered 2 years ago

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