New-vehicle sales down 4.1%, exports plummet by 38.1%
New-vehicle sales in South Africa in September dropped by 4.1%, to 44 081 units, compared with the same month last year.
naamsa | The Automotive Business Council reports that the new-passenger-car market reached 30 218 units – a 2% increase compared with September last year.
Sales to the car-rental industry accounted for 28% of new-passenger-vehicle sales during the month.
Sales of new bakkies, vans, small trucks and minibus taxis – light commercial vehicles – dropped by 17.1% in September, to 10 914 units.
Medium-truck sales inched up by 0.5%, reaching 821 units, while heavy-truck and bus sales shrunk by 18%, notes naamsa.
September new-vehicle export sales, at 21 964 units, plummeted by 38.1% compared with the same month last year.
Naamsa says that although vehicle exports to Europe – South Africa’s biggest new-vehicle export market – have slowed owing to economic challenges in this region, stricter environmental legislation, as well as some other factors, exports to the US have surged by 132% year-to-date.
New-car sales in the EU reached a three-year low in August.
Year-to-date new-vehicle sales in South Africa, at 401 169 units, are 5.8% down from the same period last year, while exports are down a substantial 19.7%, at 289 198 units.
Naamsa believes that recent positive economic trends, such as the first interest rate cut in four years by the South African Reserve Bank, a stronger rand, easing inflation and lower fuel prices may all serve to bolster consumer confidence going forward.
“Expectations are rising that the new-vehicle market could see an improvement for the remainder of the year.”
Comments
Research Reports
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
Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...
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
