BEST IN SA: The Ford Ranger, Toyota Hilux and Volkswagen Polo Vivo were the best-selling vehicles in SA for October 2016. Image: Wheels24
Cape Town - Weak Rand, political instability, rising inflation... South Africa's economy continues to buckle under tremendous strain, affecting the local vehicle market.
The National Association of Automobile Manufacturers of South Africa (NAAMSA) comments that conditions in the new vehicle market remain extremely difficult; characterised by double digit or near double digit year on year declines in all segments.
Aggregate new vehicle sales in October 2016 reveal 48 745 units sold, a decline of 5494 vehicles or -10.1% compared to the 54 239 vehicles sold in 2015.
Bakkies at the top
The Ford Ranger and Toyota Hilux were the best-selling vehicles in October 2016, followed by Volkswagen stalwarts, the Polo Vivo and Polo.
READ: Ranger trumps Hilux! New bakkie sales for October
Even though the sales outlook looks grim and bleak, the top ten vehicles sold in October saw a blend of bakkies and passenger cars. The Toyota Fortuner was the only SUV on the top 10 list.
Other vehicles that made the list include the Ford Fiesta, Nissan NP200, Toyota Etios and Chevrolet Ute.
Dividing the numbers
The consumer-driven new car market had continued to experience pressure during October 2016 and at 32 738 units reflected a decline of 3 438 cars or a fall of 9.5% compared to the 36 176 new cars sold in October last year.
READ: Top-selling vehicles sales in SA: Ranger, Polo lead the way
Domestic sales of industry new light commercial vehicles, bakkies and mini buses at 13 559 units during October 2016 reflected a decline of 1623 units or a fall of 10.7% compared to the 15 182 light commercial vehicles sold during the corresponding month in 2015.
Naamsa said: “Domestically, the short to medium term outlook remained extremely challenging. Double digit new vehicle price inflation, pressure on household disposable incomes, low levels of business confidence and relatively high interest rates would continue to impact negatively on new vehicle sales."
Simphiwe Nghona, CEO of motor retail at WesBank, said: “The new car market has been under pressure throughout the year, but receding consumer demand is even more pronounced.
“We’re seeing record numbers of applications for pre-owned vehicles. Consumers can get better value for money in the used market, where the average transaction value for financed a used car is nearly R100 000 less than a new car.”
1 Ford Ranger - 2964 units
2 Toyota Hilux - 2781
3 VW Polo Vivo - 2701
4 VW Polo - 2458
5 Toyota Corolla/Auris/Quest - 1968
6 Ford Fiesta - 1856
7 Toyota Etios - 1520
8 Nissan NP200 - 1175
9 Toyota Fortuner - 1172
10 Chevrolet Ute - 1131