New cars fare well in March
NEW vehicle sales numbers for March show the industry is recovering.
This according to the National Association of Automobile Manufacturers of SA, also known as Naamsa.
According to Naamsa, SA's aggregate domestic new vehicle sales reflected a healthy 16.5% yearon-year increase to total 50 607 units in March 2022, a performance the organisation said largely 'exceeded expectations'.
In month-on-month terms, this figure is almost 6 400 units up on February‘s effort.
In fact, March’s performance represents the highest monthly sales total since October 2019, shortly before the world – and the automotive industry – was thrown into turmoil by the pandemic.
Naamsa said the positive showing (largely driven by the passenger vehicle segment) could be attributed to 'pentup demand aligned with the increasing normalising of business conditions as well as enticing new model choices in the domestic market'.
However, the organisation also pointed out that export sales recorded a year-onyear decline of 12.4% to 34 285 units in March 2022.
For the first quarter of 2022, vehicle exports were thus 4.1% below the level of the same period last year.
WesBank, meanwhile, said the industry’s broader performance was 'cause for the SA market to be a bit more bullish', adding it provided an 'injection of much-needed buoyancy'.
'In the face of interest rate hikes, spiking fuel prices, and the ongoing industry challenges of supply, March’s new vehicle market provided a lot to celebrate.
Despite all these challenges, March indicated a positive sign of sustained growth,' said Lebogang Gaoaketse, head of marketing and communication at WesBank.
So what happened in the new car industry last month?
Well, Toyota was once again the country’s best-selling automotive brand, cracking the 15 000-unit barrier to set its highest ever monthly sales total (smashing its previous record of 13 694 units achieved in September 2019).
The VW Group remained in second, while Hyundai moved up one place to third, pushing Suzuki down one to fourth (despite the latter setting yet another new monthly sales record of 3 347 units).
Renault and Ford each climbed a spot to sixth and seventh respectively, forcing Haval two rungs down the ladder to eighth.
Here are March's top 10 brands:
1. Toyota – 15 008
2. VW – 6 433
3. Hyundai – 3 816
4. Suzuki – 3 347
5. Nissan – 3 132
6. Renault – 2 600
7. Ford – 2 235
8. Haval – 2 036
9. Kia – 1 910
10. Isuzu – 1 723 units