Toyota, VW and Suzuki continue market dominance in October
The top three brands in the passenger segment last month reported increased sales, despite the disappointing industry climate.
Of the vehicle brands that enjoyed strong industry sales in October, Toyota, Volkswagen, and Suzuki are at the top of the list.
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October’s top 10 brands in the passenger segment
- Toyota – 6 921
- Volkswagen – 5 989
- Suzuki – 4 261
- Hyundai – 2 284
- Renault – 1 604
- Chery – 1 302
- Kia – 1 300
- BMW – 1 179
- Haval – 1 009
- Nissan – 863
Want to have a look at the Top 10 from September? Click here.
In what has been described as a ‘declining market’, Toyota and Suzuki both reported positive news after earning impressive sales stats.
Toyota delivered 12 440 units during the month earning a 27.4% share of the new vehicle market. In terms of passenger market vehicles, the automaker experienced a decline of 1 068 cars over the same period in 2022, but the Corolla Cross, Starlet and Vitz remain stalwarts for sales with 2 100, 1 363 and 779 sales respectively.
Toyota South Africa’s senior vice president for sales and marketing Leon Theron stated: “Clearly the post-pandemic rebound is taking longer than we expected, fuelled by recessionary fears, rising interest rates and other economic concerns plaguing not just South Africa but the whole world.”
Related: Toyota Hilux Retains “Best-Selling Bakkie” Title for October 2023
Fellow Japanese automaker Suzuki also reported a positive month despite the disappointing industry climate. During the month, the total market declined by 2% and passenger vehicles sales dropped by 3.4% in the same month in 2022. Over the same period, Suzuki’s total sales jumped by 9%, with dealers setting a new overall sales record, growing more than 26%.
Despite the declines in new passenger vehicle sales, Thembinkosi Pantsi, the national vice-chairperson of the National Automobile Dealers’ Association (NADA) stated: “On the positive side, medium truck sales increased by 8.3%, and sales in the heavy truck and bus segment rose by a surprising 26% to 2 365 units for October. This indicates a measure of underlying confidence in the business sector, considering that these vehicles represent significant investments at a time when many economic commentators are raising warning flags.”
Entering the last two months of 2023, the South African automotive industry is still 2.1% ahead of 2022 in terms of year-to-date total sales figures. Pantsi is confident the market will maintain a positive sales figure by the close of the year.
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The post Toyota, VW and Suzuki Continue Market Dominance – Top 10 for October 2023 appeared first on CAR Magazine.
