“New vehicle sales in South Africa are slowly picking up but not at 2019 levels yet. We are not out of the woods yet. While vehicle exports are making a steady comeback, we remain cautiously anxious about the reports of a COVID-19 second wave across Europe which could further depress our overall outlook for the balance of this year”, said Mikel Mabasa, naamsa CEO.
Reflecting on the new vehicle sales statistics for the month of October 2020, naamsa confirmed that the downward trajectory in new vehicle market continued during the month, albeit at a slower pace with aggregate domestic sales at 38 752 units reflecting a decline of 13 216 units, or 25,4% from the 51 968 vehicles sold in October last year. Export sales at 33 474 units also declined by 7 792 units or 18,9% compared to the 41 266 vehicles exported in October 2019.
Vehicle export numbers are gradually regaining momentum but in terms of a recovery much will depend on an improvement in the economic climate of the South African automotive industry’s main trading partners.
Download the full NAAMSA media release below as well as the October 2020 Industry New Vehicle Sales.