South Africa’s new-vehicle sales confounded economic headwinds to record double-digit growth in June, despite high interest rates and inflation.
A combined 46,810 new cars, light commercial vehicles and trucks were sold in the month, the second-best performance this year. Year-to-date sales are up 4.8% at 265,824 units compared with the first six months of last year.
There is hope for better news for the economy and consumers during the second half of the year, said Lebo Gaoaketse, head of marketing and communications at WesBank.
“More stable fuel prices, hopefully fewer if any interest rate changes, first-half growth for the manufacturing sector as well as a strong recovery in exchange rates will all contribute to economic performance as a whole during the second half, as well as affordability for consumers in the market for a new vehicle,” he said.
“It is clear to see the correlation between actual market performance and levels of demand as measured by applications for finance, which are firmly driving new vehicle deals as opposed to pre-owned purchases.”
Gary McCraw, director of the National Automobile Dealers’ Association (Nada), said the growth in the challenging economic environment was encouraging. Buyers are facing affordability pressures, a depreciating rand that drives prices higher, low business confidence and political instability, he said.
Toyota continued to be the country’s most popular automotive brand last month, clocking 13,016 sales — its best performance of the year so far — giving it a 27.8% market share. The brand was led by the Hilux bakkie, which is back to being SA’s overall best seller after it was toppled in April by the new-generation Ford Ranger. The Hilux sold 3,792 units in June, 994 more than the previous month.
The Ranger was in third place last month, behind the Corolla Cross SUV, which was one of five Toyotas in the top 10. The Fortuner SUV, Starlet hatchback and HiAce minibus each sold more than 1,300 units, but the new-generation Toyota Urban Cruiser (281 units) has so far failed to attain the sales heights of its smaller and cheaper predecessor.
Top 30 best-selling new vehicles — June 2023
- Toyota Hilux — 3,792
- Toyota Corolla Cross — 2,115
- Ford Ranger — 2,099
- Volkswagen Polo Vivo — 1,967
- Isuzu D-Max — 1,953
- Suzuki Swift — 1,685
- Toyota Fortuner — 1,639
- Toyota Starlet — 1,415
- Toyota HiAce — 1,364
- Nissan NP200 — 1,108
- Hyundai Grand i10 — 894
- Volkswagen Polo — 882
- Haval Jolion — 835
- Nissan Magnite — 783
- Chery Tiggo 4 Pro — 771
- Renault Kwid — 753
- Mahindra Scorpio Pik-Up — 662
- Kia Sonet — 558
- Renault Kiger — 520
- Toyota Corolla Quest — 513
- Suzuki Baleno — 502
- Hyundai Venue — 495
- Volkswagen T-Cross — 494
- Suzuki Ertiga — 446
- GWM P-Series — 430
- Suzuki S-Presso — 429
- Nissan Navara — 417
- Renault Triber — 402
- Haval H6 — 385
- Suzuki Grand Vitara — 360
These were SA’s 30 best-selling new cars in June
Image: Supplied
South Africa’s new-vehicle sales confounded economic headwinds to record double-digit growth in June, despite high interest rates and inflation.
A combined 46,810 new cars, light commercial vehicles and trucks were sold in the month, the second-best performance this year. Year-to-date sales are up 4.8% at 265,824 units compared with the first six months of last year.
There is hope for better news for the economy and consumers during the second half of the year, said Lebo Gaoaketse, head of marketing and communications at WesBank.
“More stable fuel prices, hopefully fewer if any interest rate changes, first-half growth for the manufacturing sector as well as a strong recovery in exchange rates will all contribute to economic performance as a whole during the second half, as well as affordability for consumers in the market for a new vehicle,” he said.
“It is clear to see the correlation between actual market performance and levels of demand as measured by applications for finance, which are firmly driving new vehicle deals as opposed to pre-owned purchases.”
Gary McCraw, director of the National Automobile Dealers’ Association (Nada), said the growth in the challenging economic environment was encouraging. Buyers are facing affordability pressures, a depreciating rand that drives prices higher, low business confidence and political instability, he said.
Toyota continued to be the country’s most popular automotive brand last month, clocking 13,016 sales — its best performance of the year so far — giving it a 27.8% market share. The brand was led by the Hilux bakkie, which is back to being SA’s overall best seller after it was toppled in April by the new-generation Ford Ranger. The Hilux sold 3,792 units in June, 994 more than the previous month.
The Ranger was in third place last month, behind the Corolla Cross SUV, which was one of five Toyotas in the top 10. The Fortuner SUV, Starlet hatchback and HiAce minibus each sold more than 1,300 units, but the new-generation Toyota Urban Cruiser (281 units) has so far failed to attain the sales heights of its smaller and cheaper predecessor.
Top 30 best-selling new vehicles — June 2023
MORE
Here are Mzansi’s top 15 selling car brands
BYD chooses Brazil for its first EV hub outside Asia
Kia Picanto gets a fresh new look
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most read
Latest Videos