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Home Market Topics South Africa Auto Sales Jumped in 2022
LUBE REPORT
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SOUTH AFRICA AUTO SALES JUMPED IN 2022
By George Gill - January 10, 2023
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A view of an Opel automotive dealership in Centurion in South Africa's Gauteng
Province. © Jurie Maree
Sales of new vehicles in South Africa rose by 14% in 2022 and were just 1% shy
of pre-pandemic new vehicle sales in 2019, the National Association of
Automobile Manufacturers of South Africa reported yesterday. The increase came
in spite of a number of economic headwinds in the country last year.
Total new vehicle sales reached 528,963 in 2022, compared to 464,493 the year
before and to 380,206 in 2020. Car sales were up 19% at 363,092 and were 2%
higher than 355,379 in 2019.
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Select optionSenior Management (Owner, President, CEO, VP,
Dir.)SalesMarketingPurchasing/Buying/SpecificationFleet Mgmt. and/or
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“Following a family upbeat first quarter 2022 industry performance, globally
supply chain disruptions, along with the impact of the devastating floods in
KwaZulo-Natal, elevated inflation, an upwards trend interest rates, record fuel
prices, as well as record highs in the frequency and intensity of load shedding
weighed heavily on both business and consumer confidence,” the association said
in a press release. “However, the new vehicle market’s performance in 2022
remained resilient despite the multipole national and international headwinds.”
KwaZulo-Natal is a province in the southeast region of the country. Load
shedding distributes demand for electrical power across multiple power sources.
The association noted that the lifting of all COVID-19 lockdown restrictions in
the country in 2022, along with recovery in business and leisure travel,
provided some support to its new vehicle market to counter the growing pressures
on household incomes.
Stronger sales in the various commercial vehicle segments indicated improved
business confidence, the associations aid, even during the tough economic times.
Light commercial vehicle sales were up 2% at 135,666, medium commercial vehicle
sales increased 11% to 8,370 and sales of new heavy trucks and buses rose 12% to
21,835.
Consumer price inflation in South Africa reached a 13-year high of 7.8% in July
last year, the association noted. “However, despite the myriad of negative
economic pressures and ongoing stock supply shortages, the new vehicle market
continued to outperform expectations in 2022,” the association said.
RELATED TOPICS
Africa Market Topics Region South Africa
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