Bakkies, compact SUVs and small hatchbacks continue to be the most popular sellers
02 November 2022 - 11:12
byDenis Droppa
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The Corolla Cross, SA’s best-selling passenger car last month, leaves the production line at Toyota’s Prospecton factory.
Picture: SUPPLIED
New-vehicle sales in SA continued cruising in the fast lane last month with 45,966 units sold — an 11.4% increase over October 2021.
New passenger cars were the strongest market sector with 30,597 units sold, a 10.4% gain over October 2021, according to the Naamsa Automotive Business Council. Light commercial vehicles, bakkies and minibuses sold 12,738 units last month for a 14.3% increase over the same month last year.
In a further boost to the local motor manufacturing industry, export sales recorded an increase of 16.1% to 29,508 units.
“The new-vehicle market’s performance during October 2022 remained reassuring despite tough economic pressures, although the pace of recovery for the year to date has eased to 13.1% compared to the corresponding period [in] 2021,” says Naamsa CEO Mikel Mabasa.
“However, growth prospects for the balance of the year remain constrained as higher interest rates and consequent higher debt-servicing costs weigh on disposable income. The persistence of load-shedding and little hope that this will be alleviated over the near term likely also weighed on sentiment.”
Unbelievable resilience
Mark Dommisse, chair of the National Automobile Dealer Association (Nada), said the market showed unbelievable resilience in the face of negative economic pressures.
“The Transnet strike, which played havoc with logistics nationally, particularly at the ports, could not stem the ongoing upswing in the sale of new vehicles,” he said.
“There has been discussion about impending drastic vehicle price rises, but this was discounted, to a degree, by several representatives of major OEMs speaking at SA Auto Week at the Kyalami Conference Centre last week, who said they believed price rises would stay below the consumer price index [CPI],” said Dommisse.
“We are, however, still expecting increases in the first quarter of 2023, which could slow sales and influence OEMs to incentivise more heavily as they fight for market share.”
Toyota SA holds a dominant 27.3% market share and outsold its nearest competitor by more than two to one last month.
Year to date, new passenger-car sales rose 19.8% to 301,137 units compared to 251,288 between January and October 2021. Sales of light commercials are 1% down from 112,934 to 111,751 over the same period, not as a factor of market demand, but largely due to the nearly four-month closure of Toyota’s flooded Prospecton factory when popular vehicles like the Hilux and Hi-Ace Ses’fikile taxi could not be produced.
With its reopened factory now almost fully up and running, Toyota SA holds a dominant 27.3% market share and outsold its nearest competitor by more than two to one last month. Toyota sold 12,574 new vehicles in October ahead of Volkswagen (4,904), Suzuki Auto (4,112), Nissan (3,011), Hyundai (2,703), Haval (2,602), Ford (2,458), Isuzu (2,187), Renault (2,011), Kia (1,780), Chery (1,229), Mahindra (968), BMW (946), Mercedes (737) and Stellantis (563).
Bakkies, compact SUVs and small hatchbacks continued to be the most popular sellers.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
NEWS
Toyota dominates October new-car sales in SA
Bakkies, compact SUVs and small hatchbacks continue to be the most popular sellers
New-vehicle sales in SA continued cruising in the fast lane last month with 45,966 units sold — an 11.4% increase over October 2021.
New passenger cars were the strongest market sector with 30,597 units sold, a 10.4% gain over October 2021, according to the Naamsa Automotive Business Council. Light commercial vehicles, bakkies and minibuses sold 12,738 units last month for a 14.3% increase over the same month last year.
In a further boost to the local motor manufacturing industry, export sales recorded an increase of 16.1% to 29,508 units.
“The new-vehicle market’s performance during October 2022 remained reassuring despite tough economic pressures, although the pace of recovery for the year to date has eased to 13.1% compared to the corresponding period [in] 2021,” says Naamsa CEO Mikel Mabasa.
“However, growth prospects for the balance of the year remain constrained as higher interest rates and consequent higher debt-servicing costs weigh on disposable income. The persistence of load-shedding and little hope that this will be alleviated over the near term likely also weighed on sentiment.”
Unbelievable resilience
Mark Dommisse, chair of the National Automobile Dealer Association (Nada), said the market showed unbelievable resilience in the face of negative economic pressures.
“The Transnet strike, which played havoc with logistics nationally, particularly at the ports, could not stem the ongoing upswing in the sale of new vehicles,” he said.
“There has been discussion about impending drastic vehicle price rises, but this was discounted, to a degree, by several representatives of major OEMs speaking at SA Auto Week at the Kyalami Conference Centre last week, who said they believed price rises would stay below the consumer price index [CPI],” said Dommisse.
“We are, however, still expecting increases in the first quarter of 2023, which could slow sales and influence OEMs to incentivise more heavily as they fight for market share.”
Year to date, new passenger-car sales rose 19.8% to 301,137 units compared to 251,288 between January and October 2021. Sales of light commercials are 1% down from 112,934 to 111,751 over the same period, not as a factor of market demand, but largely due to the nearly four-month closure of Toyota’s flooded Prospecton factory when popular vehicles like the Hilux and Hi-Ace Ses’fikile taxi could not be produced.
With its reopened factory now almost fully up and running, Toyota SA holds a dominant 27.3% market share and outsold its nearest competitor by more than two to one last month. Toyota sold 12,574 new vehicles in October ahead of Volkswagen (4,904), Suzuki Auto (4,112), Nissan (3,011), Hyundai (2,703), Haval (2,602), Ford (2,458), Isuzu (2,187), Renault (2,011), Kia (1,780), Chery (1,229), Mahindra (968), BMW (946), Mercedes (737) and Stellantis (563).
Bakkies, compact SUVs and small hatchbacks continued to be the most popular sellers.
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