December 2023 marked the fifth consecutive month of year-on-year decline in the new vehicle market, reflecting a decline of 1 392 vehicles in total new vehicle sales in December 2023 compared to the total new vehicles sold in December 2022.
However, regarding vehicle exports, sales reports reflect an increase of 1.2% or 317 vehicles in December 2023 compared to the same period in 2022.
Top five vehicle exporters in December 2023:
- Mercedes-Benz – 11 427 units
- Ford – 6 432 units
- Toyota – 5 833 units
- BMW – 2 399 units
- Isuzu – 259 units
Most notably, the number of vehicles exported reached a record high at the end of the year, which previously stood at 387 092 units exported in 2019. Vehicle exports in 2023 rose to 396 290 units compared to the 351 785 units recorded in 2022.
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The National Association of Automobile Manufacturers of South Africa (Naamsa) states that exports rose to a record high despite external hindering factors such as geo-political tension, supply chain disruptions, pressure caused by inflation and high interest rates in the larger export market.
Related: Top 10 Best-Selling Passenger Brands for September 2023
Contrasting the record high vehicle exports is the strained new vehicle sales market, which hasn’t exceeded the total number of vehicles sold in 2022.
“We have not been able to outperform the 2019 pre-pandemic levels yet, but we remain hopeful that 2024 will deliver a different outcome for new vehicle sales in South Africa,” says Naamsa CEO Mikel Mabasa.
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