The net profit of Tractafric Motors Côte d’Ivoire (TMC), which specializes in the sale of new motor vehicles, increased by 158% at the end of the third quarter of 2021 compared to the same period of 2020.
This result stood at CFAF 2.791 billion against CFAF 1.082 billion as of September 30, 2020. According to TMC managers, it is the maintenance of margin rates and the rigorous control of operating expenses that have led to this result. results.
As for the turnover, it amounted to 48 billion FCFA against 37.009 billion FCFA as of September 30, 2020, an increase of 30%. According to TMC executives, “the company’s market share stands at 12.33% with 1,822 new vehicles sold compared to 15% in the third quarter of 2020 with 1,466 vehicles.”
They estimate that the after-sales service (store, workshop and aftermarket) has seen an increase in activity with a turnover rising from 4.048 billion FCFA at the end of September 2020 to 5.097 billion FCFA at the end of September 2021, i.e. increase of CFAF 1.049 billion. “This increase is linked to the gradual resumption of activity throughout the Ivorian territory following the lifting of the measures taken by the Ivorian government in the context of the fight against COVID-19” advance the officials of the ‘business.
As for the tire business, it recorded an increase of 15.4% compared to 2020, posting a turnover of 2.522 billion FCFA against 2.186 billion FCFA as of September 30, 2020.
The result of ordinary activities is also up 155.2% with an achievement of 3.805 billion FCFA during the period under review against 1.491 billion FCFA as of September 30, 2020.
Looking ahead to the last quarter of 2021, TMC officials believe it should experience the same growth with an increase in the company’s market share.
