Toyota SA targets ambitious sales growth up to 2030
Toyota Motors South Africa (TSAM) aims for 10% of its sales, or 22 000 units, to be new-energy vehicles (NEVs) in 2025.
This would mean the local arm of the Japanese manufacturer aims for total market sales of 220 000 units two years from now.
NEVs are hybrids, plug-in hybrids, fuel-cell vehicles, hydrogen-powered vehicles and battery electric vehicles.
Total TSAM sales reached 132 035 units in the South African market last year, with the local arm of the Japanese car maker recording a market share of 24.9%.
TSAM president and CEO Andrew Kirby says that Toyota should reach sales of 155 000 units this year.
An even more interesting number is that TSAM aims for NEV sales to be 20% of all sales in 2030 – or 54 000 units.
This would put total TSAM sales at 270 000 units for the year, which is a significant jump from this year’s expected 155 000 units.
Kirby says TSAM’s sales will be driven by a number of factors.
These include a best-case scenario that could see the worst of the country’s energy crisis resolved by December 2024 – and “we know how this impacts the economy”.
He says it is also a reality that there is a “tremendous need for mobility” in South Africa, “even from a conservative point of view”, which means that there should be significant new-vehicle sales growth in the domestic market between 2024 to 2030.
Toyota will also be expanding its model range in South Africa.
“We are also currently restricted in terms of supply on a number of models,” notes Kirby.
“Some of them relate to NEVs, where we have not been able to get enough allocation…but it is also beyond just NEVs. We are short supplied on a number of other vehicles.
“So, we are comfortable that this is a realistic outlook.”
Kirby expects the big growth drivers in the South African new-vehicle market to be small to medium sports-utility vehicles, as well as smaller, more affordable cars.
“We are forecasting fairly moderate growth on the light-commercial side.”
Comments
Research Reports
Projects
Latest News
Showroom
SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...
VISIT SHOWROOM
For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...
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
