New vehicle sales: Hilux remains top as Suzuki posts record in January

New vehicle sales in South Africa have started 2022 off on a high with a substantial increase in January.

While the Toyota Hilux remained on top with sales of 2 850 units, the Japanese automaker had more reasons to celebrate with the Starlet occupying the second step on the podium (1 472), followed in fourth by the Urban Cruiser (1 454) and the Corolla Cross (1 356) in sixth

Splitting the latter pair were the Volkswagen Polo (1 455) and Polo Vivo (1 373) with the Isuzu D-Max placing seventh with sales of 1 141 units, followed by the Toyota HiAce (1 118), Suzuki Swift (1 069) and Haval Jolion (1 038).

The marque from Hamamatsu had equal reasons to be happy after recording a record 3 232 sales in January, placing it third overall behind its alliance partner and Wolfsburg.

According to the National Association of Automobile Manufacturers of South Africa (NAAMSA), the 41 382 units moved last month represented an increase of 19.5% over the 34 639 vehicles sold in January last year.

Individual segments were however mixed with passenger vehicles posting a 26.6% increase from last year’s 23 732 to 30 037, and light commercial vehicles an uptake of 3.8% from 9 280 to 9 629.

Medium and heavy-duty commercial vehicles were less clear-cut with the former dropping 4.3% from 486 to 465, while the latter increased 9.6% from 1 141 to 1 251.

New vehicle exports ended January as the worst performing segment with the 19 089 units moved representing a decrease of 9.3% from last year’s 21 051.

“In-line with the moderate economic growth forecast for the country for 2022, the new vehicle market is expected to continue its gradual recovery to pre-Covid-19 levels, but at a slower pace,” NAAMSA said.

“Prospects for vehicle exports for 2022, although declining during the month, remain positive in line with favourable economic and market conditions abroad as well as on the back of further new model introductions by major vehicle exporters in the country in 2022,” the association said.

It however added that, “The South African Reserve Bank increased its benchmark repo rate by 25 basis points to 4% at its January 2022 meeting. This was the second increase since November 2021 as the Committee believes a gradual rise in the repo rate will be sufficient to keep inflation expectations well anchored.

“Inflation has been fuelled, amongst others, by record-high fuel prices, rising food and energy costs as well as a depreciating Rand exchange rate.

“Consumer and business sentiment will therefore remain under pressure over the short to medium term while supply chain disruptions, such as the global shortage of semi-conductors, will also continue to hamper new vehicle sales and production during the year”.

Out of the best performing manufactures, led by Toyota (12 480) Volkswagen (5 393) and as mentioned, Suzuki (3 232), Hyundai placed fourth (2 668) ahead of Haval (2 442), Renault (2 247), Nissan (2 172), Ford (1 639), Kia (1 507) and Isuzu (1 443).

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