Johannesburg - South African new vehicle sales continue to grow at an encouraging rate, with August 2022 seeing a total volume off 47 420 units, which is 14.2% more than the same month last year.
Passenger car sales grew by 14.6% year-on-year, while a resurgent light commercial vehicle market gained 13.1% versus August 2021. Medium commercial vehicles declined by 0.4%, however, while the heavies were up by 20.2%.
86.2% of all new vehicle sales last month took place through the dealer channels, while the rental industry accounted for 8.3%, corporate fleets 4.3% and government 1.2%.
It was an encouraging month for export sales, which increased by 57% year-on-year to 28 662 units. Year-to-date, export sales are now up 5.8% versus the corresponding period in 2021, and that could grow further with the new Ford Ranger emanating from Silverton.
With its Prospecton factory now reopened, Toyota sold more than 10 000 vehicles for the first time since its closure caused by floods earlier this year. Volkswagen followed in second place with 6 630 sales, while Suzuki held onto third spot with a volume of 4 164.
Top-selling brands: August 2022
- Toyota - 10 797
- Volkswagen - 6 630
- Suzuki Auto - 4 164
- Hyundai - 3 098
- Nissan - 2 644
- Renault - 2 350
- Ford - 2 341
- Isuzu - 1 830
- Kia SA - 2 035
- Haval - 1 797
According to Naamsa, the domestic new vehicle market is currently 13.8% ahead of where it was this time last year, and has shown resilience in spite of inflation reaching a 13-year high of 7.8% in July. On the upside, the car rental industry is still in the process of stocking up following all the Covid-related restrictions, and this is lending welcome support to the car industry.
“According to the ABSA Purchasing Managers’ Index, domestic demand is also likely continuing to benefit from the reopening effect, while an easing in the intensity of load shedding meant that conditions in the manufacturing sector improved in August 2022,” Naamsa said.
“The new vehicle market’s performance for the year-to-date is still 13.8% ahead compared to the corresponding period in 2021, but the pace of steady growth being experienced in the market is expected to slow down for the balance of the year,” the association added.