(2 minutes read)
· South Africa’s car market in 2020 was severely hampered by economic recession. Even with a reduction by 300-basis point interest rate, the demand could not be jacked up
· There is a substantial decline in new vehicle sales of 156,163 units, or -29.1%, from 536,612 units in 2019 to 380,449 units in 2020, according to the sales data from the National Association of Automobile Manufacturers of South Africa (Naamsa)
· There is a substantial decline in new vehicle sales of 156,163 units, or -29.1%, from 536,612 units in 2019 to 380,449 units in 2020
South Africa’s car market in 2020 was severely hampered by economic recession. Even with a reduction by 300-basis point interest rate, the demand could not be jacked up.
There is a substantial decline in new vehicle sales of 156,163 units, or -29.1%, from 536,612 units in 2019 to 380,449 units in 2020, according to the sales data from the National Association of Automobile Manufacturers of South Africa (Naamsa). Middle-class disposable income was already under pressure prior to the national lockdown, due to continuous impact of two recessions since 2008.
Data from the association revealed that Toyota accumulated a 23.7% market share by year end. The Hilux retained its spot as the country’s best-selling vehicle, The Japanese brand sold less number of cars at 90,129 vehicles in 2020, down from 130,072 sales in 2019.
Volkswagen SA, which has a 21.6% market share, saw sales down in 2020 at 28.9% year on year. The locally manufactured Polo Vivo is SA’s best-selling passenger car with 19,750 units sold in 2020; Ford’s overall sales volume was down from 50,827 to 35,272 units in 2019.
