Naamsa has recently released its monthly update which provides crucial automotive statistics. In this segment we will have a look at the top 5 best-selling brands from the month of April.
According to Naamsa, aggregate domestic new vehicle sales in April 2023, at 37 107 units reflected a decline of 88 vehicle units, or 0,2%, from the 37 195 vehicles sold in April last year. Overall, out of the total reported industry sales of 37 107 vehicles, an estimated 33 492 units, or 90,3%, represented dealer sales, an estimated 5,2% represented sales to the vehicle rental industry, 2,8% to industry corporate fleets and 1,7% sales to the government.
Top 5 best selling brands for April 2023:
- Toyota – 9 423
- Volkswagen SA – 4 644
- Suzuki Auto – 3 620
- Ford Motor Company – 2 804
- Hyundai Auto – 2 371
Despite the challenges faced by the industry, Toyota maintained its position as the top-selling brand with 9 423 units sold in April 2023. The Volkswagen Group followed with 4 644 units, while Suzuki Auto, Ford and Hyundai Automotive South Africa rounded out the top five with 3 620, 2 804 and 2 371 units sold, respectively.
Related: Top 5 best performing Passenger brands – March 2023
In releasing the April 2023 new vehicle statistics, Naamsa notes the continued constraints as a result of ongoing subdued economic conditions. The International Monetary Fund (IMF) announced that SA’s real GDP growth is expected to decelerate sharply to 0,1% for 2023, citing load-shedding, amongst other related supply shocks.
These observed economic turbulences and the record-high headline inflation are likely to trigger a further SARB Monetary Policy Committee interest rates hike in May 2023. For this reason, Naamsa expects the domestic vehicle market to remain reserved for the greater part of 2023.
