Naamsa sees positive outlook for truck sales after slump
Lower fuel prices and possible interest rate cuts promise better economic prospects, says Naamsa
24 July 2024 - 14:43
by Denis Droppa
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The Mercedes-Benz Actros was SA’s best selling extra-heavy truck in a depressed June.
Picture: SUPPLIED
After a bleak first half of the year for SA new-vehicle sales including trucks, the markets seem to have responded positively to the announcement of the new cabinet, according to motor industry umbrella body Naamsa.
Along with a third month of no load-shedding, a welcomed relief at the fuel pumps in July reducing inflationary pressure, and likely lower interest rates to commence before year-end, brighter economic prospects for the second half of the year are steadily improving, said Naamsa CEO Mikel Mabasa.
Fuel prices have fallen for two consecutive months and the Central Energy Fund expects minor cuts in August.
In June, sales of new trucks registered big drops compared to the same month in 2023 as part of a 14% overall decline in new-vehicle sales. The medium-sized truck and bus segment was the biggest casualty with the 531 units sold representing a 27.7% decline over June 2023, while heavy trucks and buses dropped 11.7% to 2,061 units.
Cumulative new vehicle sales for the first six months of the year were 7.6% below the corresponding period 2023, in line with industry expectations of a taxing first half of the year, said Naamsa. It said that the ongoing downward slope in the new market since August 2023 underscored the constraint economic environment in the country, amplified by weak consumer and business demand.
Over the first six months of 2024, medium trucks and buses were 10.5% down to 3,478 units while heavy trucks and buses saw a 2.0% decline to 11,240 units year to date.
In June, Daimler Truck held onto its position as SA’s biggest selling commercial vehicle brand with 424 units ahead of FAW Trucks (401), Isuzu Motors (291), Toyota (253), Scania (251), MAN (207), Volvo (201) and UD Trucks (154).
According to Naamsa the Isuzu N-Series was the best-selling medium truck last month on 134 units with the Hino 300 second on 102.
Isuzu topped the heavy truck category with its F-Series (104 units) ahead of the Hino 500 (81).
The Mercedes-Benz Actros ruled the extra heavy segment on 222 sales, with the FAW CA 28 and Volvo FH tied in second on 168 units each.
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.
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Naamsa sees positive outlook for truck sales after slump
Lower fuel prices and possible interest rate cuts promise better economic prospects, says Naamsa
After a bleak first half of the year for SA new-vehicle sales including trucks, the markets seem to have responded positively to the announcement of the new cabinet, according to motor industry umbrella body Naamsa.
Along with a third month of no load-shedding, a welcomed relief at the fuel pumps in July reducing inflationary pressure, and likely lower interest rates to commence before year-end, brighter economic prospects for the second half of the year are steadily improving, said Naamsa CEO Mikel Mabasa.
Fuel prices have fallen for two consecutive months and the Central Energy Fund expects minor cuts in August.
In June, sales of new trucks registered big drops compared to the same month in 2023 as part of a 14% overall decline in new-vehicle sales. The medium-sized truck and bus segment was the biggest casualty with the 531 units sold representing a 27.7% decline over June 2023, while heavy trucks and buses dropped 11.7% to 2,061 units.
Cumulative new vehicle sales for the first six months of the year were 7.6% below the corresponding period 2023, in line with industry expectations of a taxing first half of the year, said Naamsa. It said that the ongoing downward slope in the new market since August 2023 underscored the constraint economic environment in the country, amplified by weak consumer and business demand.
Over the first six months of 2024, medium trucks and buses were 10.5% down to 3,478 units while heavy trucks and buses saw a 2.0% decline to 11,240 units year to date.
In June, Daimler Truck held onto its position as SA’s biggest selling commercial vehicle brand with 424 units ahead of FAW Trucks (401), Isuzu Motors (291), Toyota (253), Scania (251), MAN (207), Volvo (201) and UD Trucks (154).
According to Naamsa the Isuzu N-Series was the best-selling medium truck last month on 134 units with the Hino 300 second on 102.
Isuzu topped the heavy truck category with its F-Series (104 units) ahead of the Hino 500 (81).
The Mercedes-Benz Actros ruled the extra heavy segment on 222 sales, with the FAW CA 28 and Volvo FH tied in second on 168 units each.
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