December 2024 proved to be another tricky month for local manufacturers, continuing with contractions in exports. Despite this, there was still a total 0f 10 667 units exported – here are the top 5 for the month.
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For the first time since Covid-19 and its global influence in 2020, vehicle exports have been in a state of decline. The annual figure lies at 308 830 units, down by a substantial 22.8% compared to the record performance of 2023 when the industry exported 399 594 units. Naama adds that various factors impacted the plummeting in vehicle exports, including a slowdown in demand in the EU, the domestic automotive industry’s key export region, due to low economic growth, stricter emission rules, and competition from cheaper electric vehicle imports from China in the region, as well as the timing effect of new model introductions in the domestic market by a major exporting OEMs.
Related: Top 10 Best-Selling Passenger Cars — November 2024
In terms of the importance of South Africa’s production prowess on the global scale, a significant two out of every three vehicles manufactured in South Africa are exported, enabling the domestic OEMs to reach a much broader consumer base beyond the South African market. Exports remain key to generating sufficient economies of scale and achieving improved international competitiveness. 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, among others.
Top 5 Vehicle Exporters in December 2024
- Toyota — 10 338 (up from 4 088)
- Mercedes-Benz — 8 000 (down from 8 400)
- Ford — 4 145 (down from 10 574)
- BMW — 1 570 (down from 4 700)
- Volkswagen — 572 (down from 1 780)
So, what changes were there in the list? Well, for starters, Toyota seems to have returned to form more than doubling their monthly sales from November all the way above 10 000 units. Mercedes-Benz, who recorded the most exports in October 2024 trail behind with a rounded 8 000 units of the C-Class being shipped off to global markets while Ford has only managed just over 4 000 units from leading the charge in November.
Related: Top 5 Exporters – October 2024
BMW and Volkswagen rounded up the Top 5 with significantly less output during December 2024.
