New-vehicle sales up 4.8% in January, exports down 1.8%
New-vehicle sales increased by 4.8% in January, to 43 509 units, compared with the same month last year.
New-passenger-car sales gained 2.9%, to 31 072 units.
The car-rental industry showed strong support for the new-passenger-car market and accounted for 16.2% of sales in January.
Sales of bakkies, small trucks, vans and minibuses increased by 10.4%, to 10 622 units.
Medium-truck sales grew by 2.9%, at 461 units, with heavy-truck and bus sales increasing by 9.9%, to 1 354 units.
New-vehicle exports saw a decline of 1.8%, to 20 536 units.
Naamsa | The Automotive Business Council describes January’s sales numbers as a “weak performance” in line with a “depressed economy” facing ongoing structural challenges and cost-of-living increases.
“The same challenges that confronted the economy and the automotive industry in 2022, such as persistent loadshedding, high inflation and interest rates, as well as currency depreciation, have all been carried over into 2023.”
Despite vehicle exports performing weaker in January, compared with the corresponding month last year, Naamsa believes that the momentum remains upward going forward.
“Notwithstanding the impact of the economic downturn, as well as the ongoing geopolitical conflict risks, there are signs of the European economy avoiding a near-term recession, while the reopening of the Chinese economy would provide a further boost to global demand in general.
“Prospects for vehicle-export growth remain optimistic on the back of further new model introductions by major exporters in the domestic market.”
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