July vehicle sales figures: Decline in demand for passenger cars

The newly released Naamsa sales stats for July shows a significant increase in export sales with more than 11 000 vehicles sold compared to July 2022.

According to National Association of Automobile Manufacturers of South Africa (Naamsa) figures from the month of July 2023, South Africa experienced a slight uptick in new vehicle sales, although demand for passenger cars declined.

The total domestic new vehicle sales for July reached 43 389 units, showing a modest increase of 567 units compared to the 42 822 units sold in July 2022. However, on the flip side, export sales saw a significant boost, surging by 11 896 units to reach 37 064 units in July 2023, compared to the 25 168 units exported in July 2022.

Related: Top 10 best-selling brands for the month of June 2023

The new passenger car market in July 2023 faced a dip, registering 27 839 units sold, which marked a decline of 2 985 cars compared to the 30 824 new cars sold in July 2022.

Notably, the car dealer sector held a strong grip, accounting for 78,3% of the new passenger car market during July 2023. Meanwhile, domestic sales of new light commercial vehicles, including bakkies and mini-buses, performed well, reaching 12 666 units in July 2023. This represented a significant surge of 3 114 units from the 9 552 light commercial vehicles sold in July 2022.

Sales for medium commercial vehicles took a hit, dropping by 90 units to 683 units in July 2023 from 773 units in July 2022. In contrast, the heavy truck and bus segments displayed positive performance, achieving 2 201 units in July 2023. This signaled an encouraging increase of 528 units compared to the same month the previous year.

Also read: Toyota Tops July Charts – Top 10 Passenger and LCV Brands

Year-to-date new vehicle sales for July 2023 reached 309 359 units, marking a 4,4% increase or 12 997 units more than the 296 362 units recorded during the same period in the previous year. Month-on-month, July 2023’s 43 389 vehicle units represented a decrease of 3 411 units compared to June 2023, which recorded 46 800 units.

In terms of exports, Naamsa stats show the year-to-date figures for July 2023 reached 209 900 units, reflecting a substantial increase of 19 029 units or 10% compared to the same period in the previous year. Month-on-month, July 2023 exports soared to 37 064 units, showing a remarkable increase of 9 735 units compared to June 2023, which recorded 27 329 units.

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The post Anticipating Naamsa Sales Figures for July 2023 appeared first on CAR Magazine.

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