SA Vehicle Sales: Top 5 best-selling vehicles for January 2024
South African vehicle sales had a sluggish start to 2024 selling only 41 636 units, a 3.8% decrease compared to the same period in 2023.
The South Africa motor industry saw sales curtail once again in January 2024. 41 636 units were sold in comparison to 43 294 for the same period in 2023. We look at SA vehicle sales over various segments including passenger and light-commercial vehicles.
Passenger cars suffered the biggest decline in the market last month. The segment lost a mammoth 6.7% year-on-year to finish on 28 790 units in January 2024.
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In the one shining light from the data, Light Commercial Vehicle (LCV) sales increased 2.3% to 10 871 units according to Motorpress.
SA VEHICLE SALES TRADITIONALLY DON’T PERFORM WELL IN JANUARY
Lebo Gaoaketse, Head of Marketing and Communication at WesBank said: “January’s weaker performance continued the trend in declining year-on-year sales the market has experienced since August.
“But this performance should consider more realistic market figures to compare against the previous year than the skewed data since the pandemic years.”
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“Indebted consumers will have been relieved by the fourth consecutive hold on interest rates during January, which will continue to help buying power in the market and hopefully increase levels of demand as buying confidence restores,” says Gaoaketse.
The sector was hit by five months of consecutive slow down in volumes towards the end of last year, along with a relatively softer January performance, the outlook for 2024 volumes looks lucky to show any growth at all according to Wesbank.
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TOP 5 BEST-SELLING VEHICLES IN JANUARY 2024
Only three carmakers feature in the top five list of best-selling SA vehicle sales for January 2024. Two bakkies feature on the list, namely the Toyota Hilux and Ford Ranger.
There are also only two hatchbacks on the list and one locally-made SUV.