New passenger car sales declined in September while light commercials grew compared to the same month last year, continuing the recent trend.
The September 2023 new passenger car market of 29,669 units dropped 8.4%, compared to the 32,392 new cars sold in September 2022. Light commercial vehicles, including bakkies and mini-buses, gained 4.6% from 12,588 units to 13,169 units over the same period.
Overall, combined sales were 4.1% down on September last year but the market displayed a commendable resilience despite challenging conditions, says motor industry umbrella body Naamsa.
“Although the South African Reserve Bank (SARB) maintained the repurchase rate at 8.25% in September, the automotive industry continues to grapple with concerns over consumer affordability,” says Naamsa.
“The most recent SARB report indicates a 0.3% contraction in household consumption expenditure, with household debt surpassing household disposable income by 62.5% in the second quarter of 2023. Additionally, the industry faces potential upward pressures stemming from an elevated inflation outlook, fluctuations in the exchange rate, rising fuel prices, and increased energy costs.”
These were South Africa's top-selling car brands in September
As per the recent trend, car sales were down compared to last year but bakkies were up
Image: Reuters
New passenger car sales declined in September while light commercials grew compared to the same month last year, continuing the recent trend.
The September 2023 new passenger car market of 29,669 units dropped 8.4%, compared to the 32,392 new cars sold in September 2022. Light commercial vehicles, including bakkies and mini-buses, gained 4.6% from 12,588 units to 13,169 units over the same period.
Overall, combined sales were 4.1% down on September last year but the market displayed a commendable resilience despite challenging conditions, says motor industry umbrella body Naamsa.
“Although the South African Reserve Bank (SARB) maintained the repurchase rate at 8.25% in September, the automotive industry continues to grapple with concerns over consumer affordability,” says Naamsa.
“The most recent SARB report indicates a 0.3% contraction in household consumption expenditure, with household debt surpassing household disposable income by 62.5% in the second quarter of 2023. Additionally, the industry faces potential upward pressures stemming from an elevated inflation outlook, fluctuations in the exchange rate, rising fuel prices, and increased energy costs.”
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Year to date, new passenger car sales have declined 3.6% to 260,833 units and light commercials have grown 17.2% to 116,002 units. Naamsa says this indicates a positive trajectory toward achieving its forecasts of 563,000 total units for the year.
Toyota remained South Africa’s most popular brand last month with 12,704 sales, ahead of Volkswagen and Suzuki.
Top 15 selling brands in September:
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