JOHANNESBURG - While the South African new vehicle market saw a modest improvement of 3.4 percent in August, versus the previous month, sales are still substantially down year-on-year, with last month’s total sales figure of 33 515 units representing a 26.3 percent decline over August 2019.
For the record, 92.1 percent of vehicle sales in August took place through the conventional dealer channels, while 4.2 percent represented sales to government, and 2.9 percent to corporate fleets. Just 0.04 percent went to the rental car industry, which is reeling under the international tourism ban.
Currently Naamsa is not reporting individual new car sales figures, However, Toyota has disclosed that it sold 3610 Hilux bakkies in August, which would certainly have made it the country’s top selling vehicle.Activity in the new vehicle market is expected to remain slow for the remainder of the year due to the uncertainties relating to the economic impact of the coronavirus pandemic and short-term budget pressures, Naamsa warns, and Eskom is not helping matters.
“Eskom announced that the heightened risk of load-shedding will haunt the South African economy for another year. All this points to an already hard-hit economy with no expectations for a quick recovery any time soon.”Further month-on-month gains are certainly a possibility for the remainder of the year as car dealers pitch numerous special deals at consumers in an effort to stimulate the market, as WesBank marketing head Lebogang Gaoaketse points out.
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