These were SA’s best-selling cars in December as sales end 2023 on a low
SA’s new vehicle sales in December fell for the fifth month running, with the 40,329 units 3.3% down on the December 2022 figure.
Passenger vehicle sales at 27,606 units were 3.9% down and light commercial vehicles at 10,181 units dropped 2.9%.
These decreases were not enough to pull the 2023 total below that of the previous year. The margin was only 0.5% with 532,098 units sold in 2023 compared to 529,556 in 2022. It was an improvement, though not on the scale of the hoped-for pre-pandemic levels, said National Automobile Dealers’ Association chair Brandon Cohen.
Industry body Naamsa attributed mediocre sales to a depressed economy, high cost of living increases and power outages, in addition to major logistical challenges at ports towards year-end.
However, it says that the pause in interest rate increases and easing in inflation may help counter pressure on household incomes. The outlook for 2024 is cautiously optimistic, especially going into the second half of the year, with expectations that interest rates could drop in the next few months on the back of lower fuel prices and, hopefully, a gradual decline in inflation, said Cohen.
Toyota retained its dominant market leadership with 11,200 new vehicle sales in December, more than double the 5,274 of its nearest rival Volkswagen, with Suzuki in third place on 3,355 followed by Hyundai (2,569), Ford (2,489), Nissan (1,900), Renault (1,864), Haval (1,480), Isuzu (1,434) and Kia (1,415) rounding out the top 10.
The Hilux was again the country’s top-selling vehicle, with the Volkswagen Polo Vivo the top passenger car. Bakkies, compact SUVs and small hatchbacks continue to be the most popular market segments.