SA's new vehicle sales drop in August and exports plummet

New vehicle sales in South Africa declined in August, with a 4.9% drop year on year compared to August 2023.

This follows a 1,5% uptick recorded in July.

43,588 new cars were sold in August 2024, a decrease of 2,266 units from the 45,854 sold last August.

The latest naamsa stats show there was actually an increase in passenger vehicle sales, by 3.1%, but light commercial vehicles like bakkies saw a substantial drop of 21.5%.

Even more worrying, says motoring journo Melinda Ferguson, was a 34.3% decline in export sales.

"That means 14 658 less cars were exported compared to August 2023."

"In terms of the drop in general car sales, naamsa reckons that the expected drop in the interest rate might be making p hold back for now."

Melinda Ferguson, Motoring Journalist

Toyota, as usual, was, in top position with 10 656 units sold locally, followed by Volkswagen.