October SA new-car sales have their best month in five years

New-car sales in October rose 14.5% to 34,228 units compared to the same month last year, a performance described by industry body Naamsa as encouraging for the medium-term market outlook.

The passenger car market experienced its highest sales month since October 2019, said Naamsa CEO Mikel Mabasa, helped by car rental sales which accounted for 19.8% of that figure. Total new-vehicle sales in October — including commercial vehicles — gained 5.5% to 47,942 units.

“It bodes well for signs of the new-vehicle market slowly turning. Though strongly supported by seasonal sales to the vehicle rental industry, passenger cars sales represent a key indicator of consumer sentiment,” said Mabasa.

“Positive indicators of further potential growth include an easing in annual consumer inflation for a fourth consecutive month to 3.8% in September, the lowest level since March 2021, when the rate was 3.2%. In addition, petrol prices were at the lowest point in nearly three years, creating some breathing space for households.”

He said consumers and businesses could look forward to the start of an interest cutting cycle over the next 18 months, which could bring debt relief and provide a stimulus to market sentiment.

“Though the immediate effects of these positive signs were still relatively small, the cumulative impact and momentum would hopefully translate into stronger new vehicle sales in the medium to long term,” Mabasa said.

While passenger cars had a strong month, commercial vehicles were down. Sales of bakkies and minibuses at 10,791 units were 12.7% lower than October 2023. Sales of medium and heavy truck segments dropped 10.1% and 7.1% respectively compared to October last year.

Toyota remained South Africa’s top performing brand last month with 11,891 sales, followed by Volkswagen group on 6,340 units and Suzuki Auto (6,006). In fourth place was Ford (2,965), followed by Hyundai (2,913), Isuzu (2,251), Chery (1,831), GWM (1,796), Renault (1,734), Kia (1,508), Mahindra (1,421), Nissan (1,304), BMW group (1,007), Omoda and Jaecoo (605) and Mercedes-Benz (474) rounding out the top 15.

SA’s best-selling new vehicles in October 2024

1. Toyota Hilux — 2,793
2. VW Polo Vivo — 2,297
3. Ford Ranger — 2,217
4. Toyota Corolla Cross — 2,104
5. Isuzu D-Max — 1,807
6. VW Polo — 1,425
7. Toyota Starlet — 1,358
8. Hyundai Grand i10 — 1,280
9. Suzuki Swift — 1,179
10. Suzuki Fronx — 1,109
11. Chery Tiggo 4 Pro — 1,079
12. Renault Kwid — 934
13. Toyota Fortuner — 905
14. Haval Jolion — 886
15. Nissan Magnite — 854
16. Suzuki Ertiga — 846
17. Toyota Starlet Cross — 805
18. Kia Sonet — 787
19. Mahindra Scorpio Pik-Up — 709
20. Toyota Vitz — 676