South Africa's new vehicle sales ended 2024 on a high by posting a third consecutive increase in December.
Improvements in the latter half of 2024 could continue or even improve in 2025 according to the National Association of Automobile Manufacturers of South Africa.
In another reversal from November, the Ford Ranger overtook the Toyota Corolla Cross to place third on 1 924 versus 1 526, with the Suzuki Swift keeping its fifth place with an offset of 1 376.Emerging as the biggest surprise though, the Toyota Fortuner recorded its first top 10 placing since September with sales of 1 343, followed by the Hyundai Grand i10 that kept its seventh place on 1 301.
“Consequently, the new vehicle market hasn’t been able to recover to the 2019 pre-pandemic level in four years and is likely to be delayed for another year. It added, “a significant two out of every three vehicles manufactured in South Africa are exported. As an export-oriented industry, the domestic automotive sector has embraced the trade opportunities via the specific trade arrangements that South Africa has concluded over the past three decades, opening certain markets in Europe, the US and Africa”.
“With an improved GDP growth rate of around 1.5% projected for 2025, the new vehicle market would likely improve by single digits compared to the level of 2024”.
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