South Africa’s vehicle market is showing interesting developments in both new vehicle sales and the rising value of used vehicles.
South Africa’s vehicle market continues to perform unevenly, reflecting the impact the hard lockdowns are having on the economy. New vehicle sales in September were 16% up on September last year, but Light Vehicle sales being down on 2020, and the global semi-conductor shortage is just starting to make itself felt on sales in SA.
New vehicle sales in July increased marginally compared to July 2020; women buyers are opting for larger vehicles; LIVE scans are up to pre-Covid-19 levels and Signio volumes are rising.
There are signs that South Africa’s retail motor sector is starting to emerge from its Covid-19 induced slump. The scans on LIVE – which indicate an ‘intention to sell’ – suggest momentum in the market has recovered to pre-Covid-19 levels. Total Signio applications were also up and the data suggests cause for optimism.
We look at new vehicle sales which suggest a recovery in the automotive industry following a dismal year. A deep-dive into the market reveals that the Sports & Exotics segments have proven the most resilient and, along with the Crossover and the Above One-ton Double-cab segments, have improved their market share by 20% year-on-year over the past six months.
We provide a 6-month rolling view of new vehicle sales, explore how South African new vehicle sales trends compare with key international markets, track finance house applications, approvals and successfully concluded finance deals, and much more.
We shed light on why some vehicle buyers hold on to their vehicles longer, which car brand retains its value the best, and understand what we are doing to make sure we still deliver excellent service to you.
Welcome to the first edition of a newsletter aimed at providing you with valuable information.