September new-vehicle sales at ten-year high, exports up 32.9%
New-vehicle sales last month reached the highest level since September 2015, says naamsa | The Automotive Business Council.
Sales were up 24.3%, to 54 700 units, compared with September last year.
The vehicle rental market showed strong demand, purchasing an estimated 15.2% of total sales.
The new passenger car market – at the highest level since October 2014, according to naamsa – gained 28%, to reach 38 603 units, compared with September last year.
Sales of new one-ton bakkies, vans, minibuses and small trucks expanded by 19.7%, to 13 078 units.
Sales for medium trucks were down 1.9%, to 767 units.
Sales of heavy trucks and buses were up 5.9%, to 2 252 units.
naamsa says that while the economy expanded in the second quarter, South Africa’s medium-term growth outlook remains muted.
For the vehicle market, this points to a demand base that is steady, but limited by low growth potential.
Some good news, however, is that consumer inflation slowed in August.
Lower food, fuel, and transport costs have also eased pressure on disposable incomes, while subdued vehicle price inflation – supported by the stronger rand and increased competition – has helped to sustain affordability in certain vehicle segments.
naamsa adds that September new-vehicle exports have surprised on the upside, gaining 32.9%, to 38 772 units.
For the year to date, vehicle exports from South Africa were now 6% ahead of the
same period last year, demonstrating the industry’s “resilience despite global supply chain disruptions” and the advent of US automotive tariffs.
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