South African new car sales continued their decline in June with the 40,072 units sold reflecting a 14% loss compared with the same month in 2023.
Light commercial vehicles, including bakkies and minibuses, took the biggest knock with the 10,552 units suffering a 24.3% decline over June last year. Passenger cars were down 9% to 26,928 sales.
It underscored the constrained economic environment, amplified by weak consumer and business demand, said automotive umbrella body Naamsa CEO Mike Mabasa.
“South African households continued to grapple with consistent cost pressures in a weak economic environment with affordability remaining a decisive factor in new vehicle purchasing decisions,” he said.
New vehicle sales for the first six months of the year were 7.6% below the corresponding period in 2023, in line with industry expectations of a taxing first half of the year, said Mabasa.
“However, the markets seem to have responded positively to the announcement of the new cabinet and a third month of no load-shedding, a further welcomed relief at the fuel pumps in July 2024 reducing inflationary pressure and likely lower interest rates to commence before year-end, brighter economic prospects for the second half of the year are steadily improving.”
These were the most popular car brands in a quiet-selling June
Image: Dall-E
South African new car sales continued their decline in June with the 40,072 units sold reflecting a 14% loss compared with the same month in 2023.
Light commercial vehicles, including bakkies and minibuses, took the biggest knock with the 10,552 units suffering a 24.3% decline over June last year. Passenger cars were down 9% to 26,928 sales.
It underscored the constrained economic environment, amplified by weak consumer and business demand, said automotive umbrella body Naamsa CEO Mike Mabasa.
“South African households continued to grapple with consistent cost pressures in a weak economic environment with affordability remaining a decisive factor in new vehicle purchasing decisions,” he said.
New vehicle sales for the first six months of the year were 7.6% below the corresponding period in 2023, in line with industry expectations of a taxing first half of the year, said Mabasa.
“However, the markets seem to have responded positively to the announcement of the new cabinet and a third month of no load-shedding, a further welcomed relief at the fuel pumps in July 2024 reducing inflationary pressure and likely lower interest rates to commence before year-end, brighter economic prospects for the second half of the year are steadily improving.”
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Toyota maintained its position as the country’s most popular brand in June, recording 9,743 new vehicle sales. Volkswagen was back in second place for the second consecutive month after being displaced by Suzuki for the first time in April.
TOP 15 SELLING BRANDS IN JUNE 2024:
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