According to Naamsa, aggregate domestic new vehicle sales reached 53,455 units in February 2026, up 5,461 units or 11.4% compared with the 47,994 vehicles sold in February 2025. It was the best February performance since 2013.
Export sales, however, fell to 24,221 units, down 9,463 vehicles or 28.1% year-on-year from the 33,684 units exported in February 2025.
Naamsa said domestic demand continues to reflect improving underlying conditions, supported by stronger private sector credit extension, moderating inflation and the cumulative impact of interest rate reductions since late 2024. Vehicle asset finance activity has strengthened as borrowing costs have eased.
Of the total industry sales recorded in February, an estimated 85.0% represented dealer sales. The vehicle rental industry accounted for 9.6% of sales, the government for 3.0%, and corporate fleets for 2.4%.
The passenger car segment recorded sales of 37,576 units, an increase of 11.3% compared with February 2025. Car rental purchases accounted for 11.5% of new passenger vehicles sold during the month.
Domestic sales of new light commercial vehicles, including bakkies and minibuses, rose 11.9% to 13,218 units. Naamsa noted that demand in this segment remains aligned with conditions in goods-producing sectors, which have shown gradual improvement.
In the medium and heavy commercial vehicle segments, medium commercial vehicle sales totalled 720 units, unchanged year-on-year, while heavy trucks and buses increased 13.6% to 1,941 units compared with February 2025.
Naamsa said export performance remains under pressure due to rising protectionism in key markets and stricter decarbonisation requirements affecting competitiveness.
