By Moses Akaigwe
Naamsa the Automotive Business Council has announced that the persisting economic strain on businesses and consumers continued to impact directly on new vehicle sales in South Africa
This is evident in the aggregate domestic new vehicle sales in October 2023, at 45,445 units, which reflected a decline of 905 units, or a fall of 2,0 percent, from the 46,350 vehicles sold in October 2022.
This was the third consecutive month of decline in the new vehicle market.
Export sales recorded an increase of 11,411 units, or 39,5 percent, to 40,302 units in October 2023 compared to the 28,891 vehicles exported in the Transnet
strike affected October 2022.
Overall, out of the total reported industry sales of 45,445 vehicles, an estimated 36,468 units, or 80,2 percent, represented dealer sales, an estimated 5,880 units or 12,9 percent represented sales to the vehicle rental industry, 4,1 percent to government, and 2,8 percebt to industry corporate fleets.
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The October 2023 new passenger car market at 29,912 units had registered a decline of 1,068 cars, or a loss of 3,5 percent, compared to the 30,980 new cars sold in October 2022. Car rental sales accounted for a sound 18,3 percent or 5,468 units of the new passenger vehicles sales.
Domestic sales of new light commercial vehicles, pick-ups and mini-buses at 12,361 units during October 2023 had recorded a decline of 387 units, or a loss of 3,0 percent, from the 12,748 light commercial vehicles sold during October 2022.
Sales for the medium commercial vehicle segment at 807 units reflected an increase of 62 units, or a gain of 8,3 percent, compared to the 745 medium vehicle sales recorded in the same period last year.
The heavy truck and bus segments of the industry reflected a positive performance during the month at 2,365 units, which is an increase of 488 vehicles, or a gain of 26,0 percent, compared to the 1,877 units sold during the corresponding month last year.
The October 2023 exports sales number at 40,302 units reflected a substantial increase of 11,411 vehicles, or 39,5 percent, compared to the 28,891 vehicles exported in October 2022.
Vehicle exports for the year to date were now 12,7 percent, ahead of the same period last year.