Dealers show resilience in tough new vehicle market

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 vehiclesTop-10 best-selling light commercial vehicles
VW Polo2993TOYOTA Hilux3366
VW Polo Vivo1900FORD Ranger2535
KIA Picanto1071NISSAN NP2001634
HYUNDAI Grand i101020ISUZU KB1542
TOYOTA Etios900TOYOTA Quantum1477
TOYOTA Fortuner888NISSAN NP300905
TOYOTA Yaris884HYUNDAI H100 Bakkie337
TOYOTA Corolla Quest845MAHINDRA Scorpio Pik-UP233
RENAULT Kwid767VW Caddy190
FORD Figo732NISSAN Hardbody187

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