South African new vehicle sales declined for the third month in a row in October as the rising cost of living continued to put a damper on demand.
According to The Automotive Business Council (Naamsa), last month’s total of 45,445 vehicle sales was 2.0% down on the same month last year, while on the upside exports rose by 39.5% to 40,302 units.
Passenger vehicle sales took a 3.5% year-on-year hit in October, and light commercial sales were down 3.0%, while medium and heavy commercials gained 8.3% and 26.0% respectively.
Dealer sales accounted for 80.2% of October’s total, followed by the rental industry (12.9%), government (4.1%) and corporates (2.8%).
The top selling vehicle overall, as you would have guessed, was the Toyota Hilux, with a dominant volume of 3,110. Following it in the bakkie race were the Ford Ranger (1,853) and Isuzu D-Max (1,464).
On the passenger car front the Volkswagen Polo Vivo took the top spot with 2,280 of the budget hatchbacks finding homes. It was followed by the Toyota Corolla Cross (2,100), Toyota Starlet (1,363), Suzuki Swift (1,248) and Volkswagen Polo (1,235).
50 Best-selling vehicles in South Africa: October 2023
- 1. Toyota Hilux - 3,110
- 2. Volkswagen Polo Vivo - 2,280
- 3. Toyota Corolla Cross - 2,100
- 4. Ford Ranger - 1,853
- 5. Toyota Hi-Ace - 1,496
- 6. Isuzu D-Max - 1,464
- 7. Toyota Starlet - 1,363
- 8. Suzuki Swift - 1,248
- 9. Volkswagen Polo - 1,235
- 10. Nissan NP200 - 961
- 11. Chery Tiggo 4 Pro - 856
- 12. Toyota Vitz - 779
- 13. Nissan Magnite - 715
- 14. Hyundai Grand i10 - 680
- 15. Renault Kwid - 661
- 16. Volkswagen T-Cross - 641
- 17. Hyundai i20 - 635
- 18. Toyota Fortuner - 629
- 19. Volkswagen Polo Sedan - 628
- 20. Mahindra Scorpio Pik-Up - 565
- 21. Kia Sonet - 548
- 22. Renault Kiger - 545
- 23. Toyota Urban Cruiser - 544
- 24. Suzuki S-Presso - 536
- 25. Haval Jolion - 534
- 26. Suzuki Ertiga - 498
- 27. Suzuki Baleno - 490
- 28. Toyota Corolla Quest - 483
- 29. Haval H6 - 472
- 30. Suzuki Fronx - 415
- 31. Suzuki Grand Vitara - 373
- 32. Nissan Navara - 354
- 33. Volkswagen Amarok - 352
- 34. Toyota Rumion - 343
- 35. Hyundai Venue - 309
- 36. Hyundai H100 Bakkie - 301
- 37. Kia Picanto - 288
- 38. GWM P-Series - 281
- 39. Toyota Land Cruiser 300 - 279
- 40. Suzuki Celerio - 276
- 41. Renault Triber - 270
- 42. Hyundai Tucson - 265
- 43. Chery Tiggo 7 Pro - 250
- 44. Ford Everest - 250
- 45. Toyota Land Cruiser PU - 248
- 46. Opel Corsa - 218
- 47. Toyota Quantum - 199
- 48. Volkswagen Tiguan - 197
- 49. Chery Tiggo 8 Pro - 196
- 50. Citroen C3 - 194
Among the vehicle brands, Toyota enjoyed its usual dominant lead with 12,106 sales (or 12,440 if you include Lexus and Hino) while the Volkswagen brand managed a volume of 6,092 (or 6,595 including Audi).
Best-selling vehicle brands in South Africa: October 2023
- 1. Toyota - 12,106
- 2. Volkswagen - 6,092
- 3. Suzuki Auto - 4,480
- 4. Hyundai - 2,622
- 5. Ford - 2,296
- 6. Nissan - 2,178
- 7. Renault - 1,606
- 8. Isuzu - 1,564
- 9. Kia - 1,417
- 10. Chery - 1,302
- 11. BMW/Mini - 1,179
- 12. Haval - 1,006
- 13. Mahindra - 827
- 14. Mercedes-Benz - 579
- 15. Audi - 510
- 16. GWM - 383
- 17. Opel - 356
- 18. Mazda - 254
- 19. Honda - 239
- 20. Mitsubishi - 221
According to Naamsa, the rising cost of living and high interest rates were taking their toll on demand for luxury goods, including cars, although year-to-date the vehicle market is still 2.1% ahead of 2022 and on track for returning to pre-pandemic levels this year.
However, WesBank’s communications head Lebo Gaoaketse said the third monthly sales decline in a row was not necessarily a curse, given the aforementioned year-to-date growth.
“Looking at sales for the 12 months from November 2022 to October 2023 compared to the same period a year previously, shows a market performing 4.1% better,” Gaoaketse said.
“This displays the sensitivity of the market to impacting forces and the need for industry to take a longer view of growth as the market recovers.”
Thembinkosi Pantsi, Vice-Chairperson of the National Automobile Dealers’ Association (NADA), said that the current macroeconomic climate in the country was not conducive to consumers making significant purchasing decisions, and was also leading buyers to consider more affordable options.
"It's quite clear that the ongoing buydown trend continues as the Chinese brands gain more momentum, alongside affordable mobility options from other brands,” Pantsi said.
“The tough economic conditions, policy uncertainty, and the high cost of living are massive problems.”
IOL Motoring