Naamsa says the “slow start” to the year continued in February 2021, with new-vehicle sales falling 13,3 percent year on year to 37 521 units.
Export sales, meanwhile, also recorded a decline in February 2021, with the final figure of 29 582 units representing an eight-percent year-on-year fall.
According to Naamsa, out of the total reported industry sales of 37 521 vehicles, an estimated 31 635 units or 84,3 percent represented dealer sales, an estimated 10,0 percent represented sales to the vehicle rental industry, 3,4 percent sales to government and 2,3 percent to industry corporate fleets.
The February 2021 new passenger car market at 24 270 units registered a fall of 18,1 percent compared with the same month in 2020. The car rental industry accounted for a “sound” 14,4 percent of car sales in February 2021, Naamsa pointed out.
Domestic sales of new light commercial vehicles, bakkies and mini-buses at 11 246 units during February 2021 showed a “modest decline” of 3,2 percent. Sales for medium and heavy truck segments reflected a “mixed performance” and at 560 units and 1 445 units, respectively, showed a decline 14,8 percent and an increase of 3,1 percent, respectively.
Despite the decline in export figures mentioned above, Naamsa says volumes of vehicles being shipped from local ports have been “steadily gaining traction”. In fact, for the first two months of 2021, vehicle exports are 3 895 units above the corresponding period in 2020.
Naamsa says the performance of the new vehicle market for the first two months of 2021, compared with the pre-COVID equivalents of 2020, continue to reflect the “economic and social challenges in South Africa”, considering the country’s economy was already in a recession before the outbreak.
Although a rebound in the new vehicle market is anticipated from March 2021, Naamsa says it is “likely that both business and consumer confidence will remain subdued over the balance of the year”.
