According to Naamsa, South Africa’s aggregate domestic new-vehicle sales reflected a healthy 16.5% year-on-year increase to total 50 607 units in March 2022, a performance the organisation said largely “exceeded expectations”. In month-on-month terms, this figure is almost 6 400 units up on February 2022‘s effort.
In fact, March’s performance represents the highest monthly sales total since October 2019, shortly before the world – and the automotive industry – was thrown into turmoil by the pandemic. Naamsa said the positive showing(largely driven by the passenger-vehicle segment) could be attributed to “pent-up demand aligned with the increasing normalising of business conditions as well as enticing new model choices in the domestic market”.
However, the organisation also pointed out that export sales recorded a year-on-year decline of 12.4% to 34 285 units in March 2022. For the first quarter of 2022, vehicle exports were thus 4.1% below the level of the same period in 2021.
WesBank, meanwhile, said the industry’s broader performance was “cause for the South African market to be a bit more bullish”, adding it provided an “injection of much-needed buoyancy”.
“In the face of interest-rate hikes, spiking fuel prices, and the ongoing industry challenges of supply, March’s new-vehicle market provided a lot to celebrate. Despite all these challenges, March indicated a positive sign of sustained growth,” said Lebogang Gaoaketse, head of marketing and communication at WesBank.
Aggregate new vehicle sales of 50 607 units increased by 16.5% (7 187 units) compared to March 2021.New passenger vehicle sales of 33 790 units increased by 27.0% (7 191 units) compared to March 2021.New light-commercial vehicle sales of 13 795 units decreased by 2.7% (-389 units) compared to March 2021.Export sales of 34 285 units decreased by 12.4% (-4 861 units) compared to March 2021.
Toyota was once again the country’s best-selling automotive brand in March 2022, cracking the 15 000-unit barrier to set its highest ever monthly sales total (smashing its previous record of 13 694 units achieved in September 2019). The Volkswagen Group remained in second, while Hyundai moved up one place to third, pushing Suzuki down one to fourth (despite the latter setting yet another new monthly sales record of 3 347 units). Renault and Ford each climbed a spot to sixth and seventh, respectively, forcing Haval two rungs down the ladder to eighth.
1. Toyota – 15 008 units
2. Volkswagen Group – 6 433 units
3. Hyundai – 3 816 units
4. Suzuki – 3 347 units
5. Nissan – 3 132 units
6. Renault – 2 600 units
7. Ford – 2 235 units
8. Haval – 2 036 units
9. Kia – 1 910 units
10. Isuzu – 1 723 units
Considering the Japanese firm’s massive sales month, it’s no surprise the Toyota Hilux again led the charge as South Africa’s top seller, with total registrations exceeding 4 500 units. The likewise Prospecton-built Corolla Cross again claimed second, with Volkswagen’s Kariega-produced Polo Vivo holding steady in third. The facelifted Polo hatchback climbed three places to fifth, while the Nissan NP200 and Toyota Urban Cruiser returned to the table (at the expense of the Fortuner and Renault Kwid). The Suzuki Swift dropped three spots to tenth but still managed to crack four figures.
1. Toyota Hilux – 4 561 units
2. Toyota Corolla Cross – 2 384 units
3. Volkswagen Polo Vivo – 2 117 units
4. Toyota Hi-Ace – 1 675 units
5. Volkswagen Polo (hatch) – 1 430 units
6. Isuzu D-Max – 1 378 units
7. Nissan NP200 – 1 327 units
8. Toyota Starlet – 1 243 units
9. Toyota Urban Cruiser – 1 196 units
10. Suzuki Swift – 1 118 units
The Volkswagen Polo hatch retained its spot at the summit of the export table, with more than 9 000 units shipped from our shores. With BMW reporting individual model figures for the first time in a while, we can see the X3 placed second, with nearly 7 000 units exported from Plant Rosslyn. The Toyota Hilux placed third in the exports race in March 2022, with the Silverton-built Ford Ranger down in fourth and the Struandale-produced Isuzu D-Max in fifth. We should point out, of course, that Mercedes-Benz did not submit detailed figures for March 2022, so it’s unclear how many new C-Class sedan units were exported from SA during the reporting period.
1. Volkswagen Polo (hatch) – 9 236 units
2. BMW X3 – 6 852 units
3. Toyota Hilux – 6 423 units
4. Ford Ranger – 3 652 units
5. Isuzu D-Max – 633 units
So, what’s next for South Africa’s new-vehicle market? Well, Naamsa says while the temporary reduction in the general fuel levy is welcome, escalating inflation risks, ongoing record fuel prices, low and stagnant economic growth and a rising interest-rate cycle will “impact the new market negatively going forward”.
In terms of new-vehicle exports, the industry representative body says it remains “optimistic” about 2022 on the back of “further new locally manufactured model introductions” on the horizon. That said, global growth is “expected to moderate” as the Russia-Ukraine conflict increasingly impacts demand and supply chains, particularly in Europe, which is the domestic industry’s top export region.
WesBank’s Gaoaketse adds though March sales returned a level of excitement to the South African new vehicle market, forecasts for the year may well need to be adjusted down given the aforementioned global conflicts.
“Although March sales are worth celebrating, the market still has challenges to face and shouldn’t be expected to continue displaying these levels of growth. The market will be hoping to arrive at levels of sustainable stability rather than peaks and troughs of volume performance. However, the indications are improving to make this possible,” Gaoaketse concluded.
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