August new-vehicle market jumps 18.7%, exports up 6.2%
August new-vehicle sales, at 51 880 units, were up 18.7% compared with the same month last year, driven by ongoing affordable model imports, improving consumer confidence, favourable credit conditions, and a steady recovery in disposable income, says naamsa | The Automotive Business Council.
The new-passenger-car market gained 22.5% in August, to reach 36 914 units – the highest level since September 2015.
Car rental sales accounted for 15% of new-passenger-vehicle sales during the month.
Sales of new small trucks, bakkies, minibuses and panel vans increased by 15.1%, to 12 326 units.
The business end of the market did not mirror the car market’s success, however, with the sales of medium trucks, at 717 units, down 3.9%, while heavy truck and bus sales declined by 8.8%, to 1 923 units.
Vehicle exports fared better, with August new-vehicle export volumes from South Africa’s seven vehicle manufacturers increasing by 6.2%, to 37 500 units
For the year-to-date, vehicle exports are 3% ahead of the same period last year.
This modest gain, however, will come under increasing pressure in the near term as the domestic auto sector is forced to adjust to higher US import tariffs, as well as the knock-on effect of these tariffs as global competition in South Africa’s traditional export markets grows, notes naamsa.
“The industry’s ongoing focus will remain on navigating potential re-routing and [pursuing] further market diversification strategies.”
Comments
Projects
Latest News
Showroom
The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...
VISIT SHOWROOM
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
