Steering Through Success

The Mauritian automotive sector, a key pillar of the local economy, has shown robust performance in 2024 despite ongoing global challenges. Based on financial figures for the year, the top 12 companies have generated a combined turnover of over Rs 23.1 billion.

Axess Limited takes the top spot in 2024 with a turnover of Rs 4.67 billion. Despite being the revenue leader, its profit margin is relatively modest. The company reported profits of Rs 311.76 million, resulting in a profit margin of 6.7%. With its financial year ending on June 30, 2023, Axess remains a dominant force in the Mauritian automotive landscape.

While Leal & Co. Ltd. comes in second in terms of turnover, generating Rs 4.39 billion, its profitability is what truly sets it apart. The company posted an outstanding Rs 1.59 billion in profits, boasting the highest profit margin in the sector at 36.2%. Leal’s ability to efficiently manage costs and boost margins places it in a commanding position as a financial leader. Its financial year also closed on June 30, 2023.

Toyota (Mauritius) Ltd ranks third with a turnover of Rs 3 billion (March 31, 2024 figures). The company’s profit for 2024 stands at Rs 368.67 million, giving it a solid 12.3% profit margin. Toyota’s performance remains consistent, reflecting its strong brand presence and market appeal.

This year’s runner-ups in the Mauritian automotive sector, ranked from fourth to eighth, showcase solid financial performances and strong market positions. CFAO Mobility (Mauritius) Ltd, in fourth place, generated Rs 2.2 billion in turnover, with a profit Rs 56 million. In fifth position, United Motors Ltd reported Rs 2.1 billion in turnover and had a healthy Rs 217 million profit margin. ABC Motors Company ranked sixth, achieved Rs 1.73 billion in turnover and a profit margin of 3.8%, maintaining its market foothold. Bamyris Motors Ltd, in seventh place, showed robust performance with Rs 1.58 billion in revenue and a solid 7.6% profit margin (Rs 120 million). Meanwhile, Autonexx Group, ranked eighth, demonstrated promise with Rs 822.58 million in turnover and a respectable 6.4% profit margin, positioning itself as an emerging player in the market. Together, these companies illustrate the healthy competitiveness within Mauritius’ automotive sector.

The Mauritian automotive sector in 2024 is marked by both high competition and profitability. Axess Limited leads in turnover, while Leal & Co. Ltd dominates profitability with its remarkable margins. Toyota, United Motors, and other mid-tier players maintain healthy financials, ensuring the sector remains dynamic and competitive. As the market continues to evolve, the presence of profitable companies across all levels—from top-tier giants to emerging players like Autonexx—reflects the strength and resilience of the Mauritian automotive industry. With turnover in billions and diverse profit margins, the sector is well positioned to navigate future challenges and capitalize on growth opportunities.