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Dealers show resilience in tough new vehicle market

2018/09/03

Dealers show resilience in tough new vehicle market

Posted in category: New Vehicle Sale Commentary

While new vehicle sales in August showed a decline of 2.5% year-on-year, the performance of the industry has remained relatively flat from a year-to-date perspective at -0.6% over the first eight months of 2018.

Of the 47 964 total industry sales last month, 66% went to the passenger vehicle segment which is down 2.2% year-on-year and is flat year-to-date according to data released today by the National Association of Automobile Manufacturers of South Africa (Naamsa). Light commercials, which contributed 29% of total sales, are down 5.8% year-on-year and 2.5% year-to-date. The commercial segment comprising buses, medium, heavy and extra-heavy vehicles made up the final 5%, and is up 16% year-on-year and 2.1% year-to-date.

“Despite perpetual pressure on the economy this year with total industry sales remaining subdued, the dealer channel has been resilient showing 2.4% year-to-date growth.” said Ghana Msibi, WesBank’s Executive Head for Sales and Marketing. “With four months remaining in 2018, WesBank’s forecast of 3% growth is still possible. However, if the deterioration of the rand to foreign currencies continues as we’ve seen in August, consumers could feel more of a pinch when buying new cars going forward.”

Rentals grew by 1.6% year-on-year in August, but remained 7.6% down when compared to the first eight months of last year which saw the highest rental sales ever recorded.

 

Top-10 best-selling passenger vehicles

Top-10 best-selling light commercial vehicles

VW Polo

2993

TOYOTA Hilux

3366

VW Polo Vivo

1900

FORD Ranger

2535

KIA Picanto

1071

NISSAN NP200

1634

HYUNDAI Grand i10

1020

ISUZU KB

1542

TOYOTA Etios

900

TOYOTA Quantum

1477

TOYOTA Fortuner

888

NISSAN NP300

905

TOYOTA Yaris

884

HYUNDAI H100 Bakkie

337

TOYOTA Corolla Quest

845

MAHINDRA Scorpio Pik-UP

233

RENAULT Kwid

767

VW Caddy

190

FORD Figo

732

NISSAN Hardbody

187

 

* Sales figures are supplied by Naamsa and exclude non-reporting manufacturers.

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