New-vehicle sales hit top gear despite rising inflation and interest rates
06 September 2022 - 10:57
byDenis Droppa
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With Toyota's Durban factory up and running again, the Hilux resumed its position as SA's top-selling vehicle.
Picture: SUPPLIED
Despite rising inflation and an interest rate hike, demand in SA’s new-vehicle market continued to grow in August. It was the second-best performing sales month this year, with 47,420 units sold, according to Naamsa.
This was 14.2% higher than the same month last year, and market prospects for the remainder of the year could hold further promise, said Lebogang Gaoaketse, head of marketing and communications at WesBank, despite further expected rate increases.
Passenger cars grew 14.6% to 31,269 units compared with August last year, representing similar volumes to July. Light commercial vehicles contributed 13,281 units, up 13.1% year-on-year and a far better performance than the 9,552 sales last month.
The new-vehicle market’s performance year-to-date is 13.8% ahead of the corresponding period in 2021.
After production recently resumed at its Durban factory after its temporary closure due to flooding, Toyota resumed its firm dominance of the market.
It sold 11,138 vehicles last month, ahead of second-placed Volkswagen on 6,693 units and third-placed Suzuki (4,164). Hyundai followed on 3,129 units ahead of Nissan (2,644), Renault (2,350), Ford (2,341), Isuzu (2,122), Kia (2,035), Haval (1,797), Mahindra (1,332), Chery (1,320), BMW (1,064), Mercedes-Benz (999) and Stellantis (730).
The Polo Vivo was the most-sold passenger car in August.
Picture: SUPPLIED
The locally built Toyota Hilux, with 3,417 units, was back to its top spot as SA’s best-selling vehicle last month. The locally built Volkswagen Polo Vivo was the best-selling passenger car with 2,359 units.
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NEWS
These were SA’s best selling cars in August
New-vehicle sales hit top gear despite rising inflation and interest rates
Despite rising inflation and an interest rate hike, demand in SA’s new-vehicle market continued to grow in August. It was the second-best performing sales month this year, with 47,420 units sold, according to Naamsa.
This was 14.2% higher than the same month last year, and market prospects for the remainder of the year could hold further promise, said Lebogang Gaoaketse, head of marketing and communications at WesBank, despite further expected rate increases.
Passenger cars grew 14.6% to 31,269 units compared with August last year, representing similar volumes to July. Light commercial vehicles contributed 13,281 units, up 13.1% year-on-year and a far better performance than the 9,552 sales last month.
The new-vehicle market’s performance year-to-date is 13.8% ahead of the corresponding period in 2021.
After production recently resumed at its Durban factory after its temporary closure due to flooding, Toyota resumed its firm dominance of the market.
It sold 11,138 vehicles last month, ahead of second-placed Volkswagen on 6,693 units and third-placed Suzuki (4,164). Hyundai followed on 3,129 units ahead of Nissan (2,644), Renault (2,350), Ford (2,341), Isuzu (2,122), Kia (2,035), Haval (1,797), Mahindra (1,332), Chery (1,320), BMW (1,064), Mercedes-Benz (999) and Stellantis (730).
The locally built Toyota Hilux, with 3,417 units, was back to its top spot as SA’s best-selling vehicle last month. The locally built Volkswagen Polo Vivo was the best-selling passenger car with 2,359 units.
The top selling new vehicles in August 2022:
Toyota Hilux — 3,417
VW Polo Vivo — 2,359
Toyota Urban Cruiser — 1,905
Ford Ranger — 1,791
Isuzu D-Max — 1789
Nissan NP200 — 1,397
Suzuki Swift — 1,369
VW Polo — 1,286
Toyota Corolla Cross — 1,129
Toyota Hi-Ace — 1,008
VW T-Cross — 1,000
Renault Kiger — 999
Mahindra Scorpio Pik-Up — 896
Renault Kwid — 824
Chery Tiggo4 Pro — 779
Toyota Starlet — 774
Haval Jolion — 738
Hyundai Venue — 712
Suzuki Vitara Brezza — 679
Toyota Fortuner — 667
Nissan Navara — 661
Hyundai Atos — 609
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