The local automotive sector remains under pressure as declines across all segments were registered during the month of May 2017. Take a look at this new car sales summary for the details.
The National Association of Automobile Manufacturers of South Africa (NAAMSA) has reported declines across all sectors for May 2017. However, the association commented that the sale of new cars and light commercial vehicles were better than expected. Export sales also reflected year-on-year decline.
The Ford Ranger bakkie topped the local sales chart for May 2017 with the Toyota Hilux also selling well to claim second place. The Volkswagen Polo Vivo holds third position closely followed by the Toyota Corolla and Volkswagen Polo. Toyota is currently the best-selling car brand in South Africa.
Herewith a basic summary of events in May 2017.
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Aggregate new car sales of 41 783 down by 2.6% (1 129 units) compared with May 2016.
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New passenger car sales of 26 317 down by 2.5% (663 units) compared with May 2016.
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Light Commercial Vehicle (LCV) sales of 13 410 down by 1.5% (210 units) compared to May 2016.
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Export sales of 29 596 down by 12.0% (4 023 unites) compared with May 2016.
Top 5 Best Selling Car Brands in South Africa for May 2017
1. Toyota – 9 601 units with a market share of 23.0%
2. Volkswagen – 6 386 units with a market share of 15.3%
3. Ford – 4 902 units with a market share of 11.7%
4. Nissan – 3 258 units with a market share of 7.8%
5. GMSA – 3 228 units with a market share of 7.7%
Top 5 Best Selling Cars in South Africa for May 2017
1. Ford Ranger – 2 875 units
2. Toyota Hilux – 2 785 units
3. Volkswagen Polo Vivo – 1 955 units
4. Toyota Corolla/Auris/Quest – 1 415 units
5. Volkswagen Polo – 1 376 units
New Car Sales Outlook
Despite marginal improvement in new vehicle sales in the beginning of the year, NAAMSA’s outlook for the remainder of 2017 is uncertain. A polarised political environment and the prospect of subdued economic growth in the short to medium term continues to have a negative impact on business confidence and consumer sentiment.
NAAMSA comments that domestic vehicle sales for 2017 “will likely be flat at best” based on a number of assumptions including that South Africa would avoid further credit rating agencies’ downgrades, that interest rates won’t increase over the short to medium term, that economic growth would improve and finally, that the exchange rate remains stable, despite volatility. NAAMSA does predict, however, that exports will improve by some 3.6% on the back of expected global growth in 2017.
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