December 27, 2023
In August 2023, South Africa experienced a 3.1% decline in domestic new passenger vehicle sales compared to the same period in the previous year. Despite this contraction, certain car brands and models demonstrated resilience in economic challenges, providing insights into South African consumers’ preferences.1
During August 2023, aggregate domestic new vehicle sales amounted to 45,679 units, reflecting a 3.1% decrease from the 47,155 vehicles sold in August 2022. According to the National Association of Automobile Manufacturers of South Africa (Naamsa), this decline emphasizes the country’s persistently challenging business and consumer environment, driven by unfavourable economic factors. 1
The passenger car market witnessed a 6.7% decline, with new car sales dropping from 31,015 in August 2022 to 28,951 in 2023. Rising living costs and reduced disposable income contributed to this downturn, impacting consumer sentiment and participation in the new vehicle market. 1
some relief. These include reduced daytime load shedding since June 2023, the decision to keep interest rates on hold in July 2023 for the first time since November 2021, and inflation stabilizing within the 3% to 6% target band. 1
However, the energy and logistical constraints continue to constrain domestic economic growth, limiting economic activity and increasing costs, according to NAAMSA. 1
Toyota maintained its position as the leading car brand in South Africa, selling 12,233 vehicles in August 2023. The enduring popularity of its flagship bakkie contributed significantly to Toyota’s continued dominance. Volkswagen (VW) secured the second spot with 5,972 units sold, followed by Suzuki in third place with 4,332 units. 1
Toyota’s market share stood at an impressive 26.7%, surpassing the combined sales of VW (13%) and Suzuki (9.5%), collectively constituting 22.5% of all vehicles sold. Of the total reported industry sales, 83.8% were represented by dealer sales, 12.2% by the vehicle rental industry, 1.2% by the government, and 2.8% by corporate industry fleets. 1
The Toyota Hilux maintained its position as the best-selling model in August 2023, selling an impressive 3,309 units. Toyota demonstrated its market strength further by having four models in the top 10, including the Hilux, Toyota Corolla Cross (4th), Toyota Hi-Ace (6th), and the Toyota Starlet (7th). 1
After briefly topping the charts in April, the Ford Ranger secured the third-place position in August with 2,367 units sold. Other top-selling models included the VW Polo Vivo (second), VW Polo (ninth), Suzuki Swift (eighth), Isuzu D-Max (fifth), and Nissan NP200 (tenth). 1
While South Africa’s automotive market faced challenges in August 2023, consumers’ preferences remained evident through the continued success of certain car brands and models. Toyota’s enduring popularity, coupled with the performance of other key players like Volkswagen and Suzuki, sheds light on the industry’s resilience and adaptability in the face of economic uncertainties.
Understanding these trends as the market continues to navigate challenges provides valuable insights for industry stakeholders and enthusiasts alike. 1
The article aims to provide South African motorists with an overview of the best-selling vehicles in 2023. 1
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April 18, 2024
April 18, 2024