New vehicle market dips again: these were the 50 best sellers in February 2024

New vehicle market dips again: these were the 50 best sellers in February 2024

With elections looming, it was anticipated that the first half of 2024 would be a tough one for vehicle sales, and the economy in general.

According to the latest figures released by Naamsa, The Automotive Business Council, February saw a slight decline in new vehicle sales in South Africa. A total of 44,749 vehicles were sold last month, which is a 0.9% decrease over the same month last year.

As has become a trend in the industry, passenger vehicles were the biggest losers, declining 3.1% year-on-year to 29,782 units, while the light commercial and bakkie market saw a gain of 2.5% to 12,978 units. Medium commercials were down 7.7% while the heavies were up by 14%.

84.7% of all vehicle sales took place through the dealer channels, while the rental industry accounted for 9.6% of the pie, followed by government (3.4%) and corporate fleets (2.3%).

On the sales charts there were no surprises on the bakkie front, with the Toyota Hilux securing a volume of 3,100 units and the Ford Ranger taking second spot with a robust 2,187 and the Isuzu D-Max managing 1,740 sales.

The passenger car race saw the Toyota Corolla Cross take the lead, with 1,959 units finding homes, which was enough to overtake the usual front-runner, Volkswagen’s Polo, which declined to 1,861 units last month. Suzuki’s Swift was third, at 1,627, followed by the Toyota Starlet (1,481) and Hyundai Grand i10 (1,263), which enjoyed a stronger than usual month.

50 best-selling vehicles in South Africa: February 2023

• 1. Toyota Hilux – 3,100

• 2. Ford Ranger – 2,187

• 3. Toyota Corolla Cross – 1,959

• 4. Volkswagen Polo Vivo – 1,861

• 5. Isuzu D-Max – 1,740

• 6. Suzuki Swift – 1,627

• 7. Toyota Starlet – 1,481

• 8. Nissan NP200 – 1,276

• 9. Hyundai Grand i10 – 1,263

• 10. Toyota Hi-Ace – 1,109

• 11. Volkswagen Polo – 988

• 12. Chery Tiggo 4 Pro – 964

• 13. Nissan Magnite – 847

• 14. Toyota Fortuner – 722

• 15. Mahindra Scorpio – 715

• 16. Suzuki Ertiga – 658

• 17. Toyota Urban Cruiser – 649

• 18. Suzuki Baleno – 585

• 19. Haval H6 – 569

• 20. Kia Sonet – 552

• 21. Toyota Vitz – 550

• 22. Haval Jolion – 544

• 23. Volkswagen T-Cross – 530

• 24. Renault Kiger – 484

• 25. Nissan Navara – 449

• 26. Hyundai i20 – 402

• 27. GWM P-Series – 378

• 28. Toyota Corolla Quest – 361

• 29. Suzuki Jimny – 357

• 30. Ford Everest – 353

• 31. Suzuki Fronx – 347

• 32. Renault Triber – 336

• 33. Toyota Rumion – 333

• 34. Suzuki S-Presso – 331

• 35. Chery Tiggo 7 Pro – 328

• 36. Volkswagen Amarok – 324

• 37. Volkswagen Polo Sedan – 322

• 38. Toyota Land Cruiser PU – 315

• 39. Suzuki Grand Vitara – 282

• 40. Renault Kwid – 280

• 41. Suzuki Ciaz – 259

• 42. Suzuki Celerio – 252

• 43. Hyundai H100 Bakkie – 225

• 44. Chery Tiggo 8 Pro – 212

• 45. Suzuki Eeco – 197

• 46. Volkswagen Tiguan – 180

• 47. Honda BR-V – 160

• 48. Beijing X55 – 159

• 49. Volkswagen T-Roc – 157

• 50. Kia Pegas – 153

Toyota more than doubled the sales of its nearest rival, with a total volume of 11,524, followed by Volkswagen (5,333), Suzuki Auto (5,221), Nissan (2,739) and Ford, which completed the top five with 2,732 units.

Interestingly Suzuki overtook Volkswagen in the passenger vehicle race, with 4,889 units versus 4,805. The Japanese brand, which imports most of its vehicles from Maruti Suzuki of India, has delivered a wake-up call to local OEMs with its range of affordably priced vehicles.

National Automobile Dealer’s Association (NADA) Chairperson Brandon Cohen said South Africans were increasingly turning to more affordable vehicles due to the current economic challenges as well as high interest rates.

Chinese manufacturers are also capitalising on this trend, NADA said, while the premium segment is coming under increasing pressure as buyers shift from new vehicles to demos and pre-owned cars.

Demand for finance still robust

Despite vehicle sales being down slightly year-on-year, WesBank sees the market as robust and resilient, with volumes up 6.9% over January and finance applications increasing by 8.4%.

“The optimistic view of the market for 2024 would consider February sales as a reassuring volume despite the conditions enjoying higher levels of demand than performance during the first half, which would allow improved market growth during the second half,” said WesBank marketing head Lebo Gaoaketse.

“If the currency, inflation and fuel prices could come under control, interest rate cuts could be expected later in the year, stimulating growth and meeting those levels of demand. That would be good news for the overall economy and new vehicle sales.”

Good news on the export front

February was a strong month for South African vehicle exports, with 39,517 units shipped abroad, which is 27.5% more than February 2023’s number. 75.5% of these vehicles were exported to Europe, Naamsa said.

Mzansi’s top exports for the month were the Volkswagen Polo (12,715), Mercedes C-Class (7,782), Ford Ranger (6,440), Toyota Hilux (5,672) and BMW X3 (5,500).

IOL Motoring