South Africa’s Top 5 industry giants for February 2023
Latest figures show that new vehicle sales continue to build on momentum from the opening month of the year.
Reflecting on new vehicle sales performance for the month of February 2023, recent figures show that new vehicle sales continue to build on momentum from the opening month of the year.
This is great news for the industry, as it continues to recover from the challenges posed by the Covid-19 pandemic.
According to the latest data released by the National Association of Automobile Manufacturers of South Africa, total domestic new vehicle sales increased by 1 128 units, or 2,6%, to 45 352 units, compared to the same period last year. The growth can be attributed to a number of factors, including the increase in consumer confidence and the improved economic outlook. However, year-on-year vehicle exports declined by 11,5%, from 34 352 units in February 2022 to 30 409 units in February 2023.
Overall, of the 44 224 vehicles that were reported as having been sold across the industry, an estimated 37 091 units, or 83,6%, were dealer sales. Another estimated 9,0%, 5,1%, and 2,3%, respectively, were sales to the vehicle rental industry, government, and corporate fleet.
Here’s a Top 5 List of the best-selling brands in February 2023:
- Toyota – 11 560
- Volkswagen Group SA – 5 288
- Suzuki Auto – 4 309
- Nissan – 3 172
- Hyundai – 2 715
Naamsa reported good numbers for the month but a number of manufacturers saw a decrease in sales compared to January. Toyota is still leading the pack but is now showing a decrease of 972 units compared to January 2022. Volkswagen in the second position showed an increase of 207 vehicles compared to the previous month, Suzuki’s numbers dropped by just 48 units in February although they remain firmly in the pound seat. Nissan saw an increase in numbers by 245 units which places them firmly in the list, Hyundai showed an increase of 190 units compared to January 2023.
The number of automobiles exported in February 2023 was recorded at 30 409 units, a significant decrease of 3 943 or 11,5% from the 34 352 vehicles exported in February 2022. While momentum for the new vehicle market has been slow, Naamsa forecast that both domestic sales will grow by 6,3% at 563 000 units for 2023 and export sales will grow by 8,3% or 380 900 units.
Read the original story on CAR Magazine.
