New-vehicle sales down 0.9%, exports jump by 27.5%
Total domestic new-vehicle sales in February declined by 0.9%, to 44 749 units, compared with the same month last year, says Naamsa | The Automotive Business Council.
The new-passenger-car market dropped by 3.1%, to reach 28 857 units.
Car rental sales accounted for 12.9% of new-passenger-vehicle sales during the second month of the year.
Sales of new bakkies, vans and taxis increased by 2.5%, to 13 306 units, compared with February last year.
Medium truck sales dropped by 7.7%, reaching 645 units, while heavy-truck and bus sales jumped by 14%, to 1 941 units, reports Naamsa.
February new-vehicle exports from South Africa to the rest of the world increased by 27.5%, to 39 517 units.
Naamsa says February’s sales numbers show that middle-income households are restricting their appetite for big-ticket items such as new vehicles.
“The ripple effect of higher interest rates, higher fuel prices and no relief for personal income-taxpayers in the 2024/25 tax year will continue to impact household incomes for the foreseeable future.”
“With the date of the 2024 South African general election announced to take place on 29 May, economic uncertainty remains the reality for most households and businesses,” the sector body adds.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points
VISIT SHOWROOM
ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
