New Car Sales in SA: October 2018

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The month of October 2018 yielded positive results in terms of local new car sales with aggregate industry sales reaching a 3-year high. However, passenger car sales declined marginally during the period. See details below…

Total domestic sales reached levels last seen in October 2015 while exports showed strong gains in October 2018. According to the National Association of Automobile Manufacturers of South Africa (NAAMSA), the uptick in sales was largely due to growth in the various commercial vehicle segments.

Ghana Msibi, WesBank Executive Head of Sales and Marketing commented, “Earlier this year, WesBank made a prediction that new vehicle sales would grow by a conservative 0.75% by the end of 2018. To date, new vehicle sales have tracked in line with our forecast. Looking at WesBank’s application data, we were pleased to see a significant spike in finance applications in October which may be indicative of an increase in consumer appetite that could translate into growth in the coming months.”

Toyota continues to dominate the local market and has recorded its highest monthly sales figure to date, racking up a total of 13 342 units sold in October 2018 with the Hilux dominating the LCV segment with 3 352 unit sales. Toyota has now captured 25.7% of the local market.

New Car Sales Summary: October 2018

  • Aggregate new car sales of 51 866 up by 1.7% (+ 844 units) compared to October 2017

  • Passenger car sales of 35 050 down by 0.7% (- 258 units) compared to October 2017

  • Light Commercial Vehicle (LCV) sales of 14 168 up by 5.9% (+ 794 units) compared to October 2017

  • Export sales of 34 134 up by 20.9% (+ 5 901 units) compared to October 2017

Top Selling Car Brands in SA

  1. Toyota - 13 342 units

  2. Volkswagen - 8 983 units

  3. Ford - 5 421 units

  4. Nissan - 4 902 units

  5. Hyundai - 3 160 units

Top Selling Cars in SA

  1. Toyota Hilux - 3 352 units

  2. Volkswagen Polo Vivo - 3 009 units

  3. Volkswagen Polo - 2 824 units

  4. Ford Ranger - 2 575 units

  5. Toyota Corolla Quest/Nissan NP200 - 1 879 units

  6. Toyota Yaris - 1 729 units

  7. Isuzu KB - 1 636 units

  8. Toyota Fortuner - 1 178 units

  9. Toyota Quantum - 1 483 units

  10. Hyundai Grand i10 - 900 units

Sales Outlook

According to NAAMSA, consumers’ disposable income remains under pressure against a backdrop of tough economic conditions. Difficult business conditions are expected to remain for the short term.

However, new vehicle affordability continues to improve as new car price inflation has remained well below the Consumer Price Index for the past 15 months while attractive sales incentives will help to boost sales.

Higher economic growth is expected to materialise over the medium term following the recent investment summit which aimed to restore confidence and credibility in South Africa. Furthermore, exports are expected to improve substantially in the coming months.

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