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SA car sales dashboard: Another positive month for local auto market

2017-10-02 18:27

Image: iStock

Johannesburg - "A total of 50 322 new vehicles were sold across all segments representing year-on-year sales growth of 6.3%," reports the National Automobile Association of South Africa (Naamsa). 

For the fourth consecutive month, new vehicle sales recorded gains. New vehicle exports also registered strong gains. 

According to Naamsa: "Despite the subdued economy, compounded by political and economic policy uncertainty, the new vehicle market had registered encouraging gains lead by upward momentum in the new light commercial vehicle and new car segments. 

"The recent sharp increase in the Reserve Bank’s leading indicator and the improvement in the Purchasing Manager’s Index suggested that further improvement in domestic sales  could be expected in the months ahead."

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Sales breakdown - 50 675 vehicles in September 2017

New vehicle sales in SA

New vehicle sales in September 2017 reported 50 675 units sold, an increase of 3318 units or 7.0% compared to the 47 357 units in September 2016. Export sales were 36 359 vehicles, an improvement of 3 595 units or 11.0% compared to the 32 764 vehicles exported in September last year.

Naamsa: "The contribution by the car rental sector to sales remained difficult to determine exactly since four companies did not report sales by channel."

New car market

About 33 669 new cars were sold in September, a gain of 1868 cars or 5.9% compared to the 31 801 new cars sold in September last year. The car rental Industry accounts for an estimated 18.9% of new car sales in September, 2017.

Bakkie market

Domestic sales of industry new light commercial vehicles (LCV), bakkies and mini buses at 14 523 units, reflects a substantial gain of 1520 vehicles. This is in addition to the improvement in LCVs sales in recent months.

Positive future for SA car sales

Naamsa said: "The strong gains in the September vehicle exports were in line with expectations and total 2017 export numbers were expected to post a marginal improvement on 2016.

"Over the past four months, the domestic automotive industry had held up well in the current challenging economic environment. A number of factors had contributed to the improved momentum in local sales and these included reduced new vehicle pricing pressures currently at an annualized rate lower than inflation, the July, 2017 reduction in interest rates and continued highly attractive sales incentives.

"Normally sales during the second half of the year were higher than aggregate sales in the first half and an overall year-on-year improvement of around 1.5% for 2017 was therefore likely. In the case of vehicle exports, continued positive global economic growth prospects should support new vehicle export sales." 

Read more on:    naamsa  |  south africa  |  johannesburg  |  sa car sales

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