The long-term leasing (LLD) market in Côte d’Ivoire: a promising development
Operational Leasing (ELV) has grown in popularity in Côte d’Ivoire in recent years, emerging as an attractive alternative to traditional vehicle ownership for businesses and individuals. This leasing model, which offers the possibility of renting a vehicle for an extended period, generally from two to five years, is experiencing significant growth in the Ivorian market, with a positive impact on various economic sectors.
A favourable context
Several factors have contributed to the growth of full service leasing in Côte d’Ivoire. Firstly, the rapid evolution of the Ivorian economic landscape, marked by sustained growth and an expansion of commercial activities, has stimulated demand for flexible and affordable mobility solutions. Many companies, from multinationals to local SMEs, are recognising the financial and operational advantages of full service leasing to meet their transport needs.
In addition, growing urbanisation and the rise of the middle class have led to increased demand for personal vehicles. Full service leasing offers an attractive option for individuals who want to enjoy the benefits of a car without the high upfront costs of purchasing one.
Advantages of full service leasing
Full service leasing offers a number of advantages for both companies and individuals in Côte d’Ivoire. For businesses, it offers simplified fleet management, with fixed monthly costs that often include maintenance, insurance and other related services. This allows companies to better forecast their expenditure and concentrate on their core activities.
For private individuals, full service leasing offers the opportunity to drive a new vehicle without committing large initial sums. Fixed monthly payments make budget management easier, and the option of changing vehicle at the end of the contract offers valuable flexibility.
Challenges and opportunities
Although full service leasing is growing in popularity, there are still challenges on the road to expansion. The sometimes poor road infrastructure and safety challenges can prevent the full potential of full service leasing from being realised in Côte d’Ivoire. However, these challenges are also opportunities for innovation and improvement.
Full service leasing is rewriting the rules of the game in the Ivorian automotive market. With its economic advantages, flexibility and simplicity, it meets the changing mobility needs of companies and individuals. Although challenges remain, the leasing sector is well positioned to overcome these obstacles through innovation and collaboration. In this era of automotive transformation, full service leasing is more than just a leasing model; it is a revolution on wheels.