New-vehicle sales are likely to grow 8% in 2022 after bouncing back strongly last year from 2020’s Covid-induced market collapse, Mikel Mabasa, CEO of Naamsa (formerly the National Association of Automobile Manufacturers of SA), said on Monday.

Despite a disappointing December, full-year 2021 sales of new cars and commercial vehicles totalled 464,122, which was 22.1% more than 2020’s 380,206. That outperformed even the most optimistic forecast at the start of 2021. As recently as midyear, Naamsa was forecasting a market of 438,000. Instead, the numbers are even ahead of its then forecast of 463,000 for 2022...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now