The turnover of the company Tractafric Motors Côte d’Ivoire (TMC), specializing in the sale of motor vehicles, increased by 901.416 million FCFA (1.352 million euros) in the first quarter of 2021 compared to the same period of 2020, the leaders of this Abidjan-based company announced.
This turnover stood at 14.827 billion FCFA against 13.926 billion FCFA as of March 31, 2020. “The market share for the first quarter of 2021 amounts to 14% with 613 new vehicles delivered against 586 vehicles delivered to first quarter of 2020, an increase of 5% ”, underline the leaders of TMC. They add that the 2021 global market grew by 26% compared to 2020, an increase linked to the strong growth in the small sedan segment.
The company’s tire activity (Michelin) has fallen by 21% with a turnover of 720 million FCFA. As for the Rental activity (Europcar), for its part, it increased by 39% to 508 million FCFA. For its part, the Aftermaket activity set up in the fourth quarter of 2020 achieves a turnover of 324 million FCFA.
The result of ordinary activities is up sharply by 62.7% with an achievement of 962 million FCFA against 591 million FCFA in the first quarter of 2020.
The increase in turnover and the control of operating expenses enabled the entity to achieve a net profit of CFAF 707.172 million against CFAF 409 million as of March 31, 2020, a sharp increase of 73%.
“The Ivorian automobile market is experiencing strong growth over the 2021 fiscal year. TMC therefore plans to regain a market share in line with previous years”, estimated the managers of this company about the foreseeable evolution of the activity at closing. They reveal that TMC will integrate new activities: openings of new branches inside the country and the entry into production of the Yopougon branch opened in 2020. However, they are aware that the announced trend will be dependent on the socio-political and health stability of Côte d’Ivoire.
