Local car industry sees continued decline in June 2024

Source: Unsplash

Export sales recorded a welcomed increase of 977 units, or 3,6%, to 28,306 units in June 2024 compared to the 27,329 vehicles exported in June 2023.

Of the total reported industry sales, an estimated 33,039 units, or 82,5%, represented dealer sales, an estimated 11,0% represented sales to the vehicle rental industry, 3,6% to the government, and 2,9% to industry corporate fleets.

The June 2024 new passenger car market at 26,928 units had registered a decrease of 2,671 cars, or a loss of 9,0%, compared to the 29,599 new cars sold in June 2023. Car rental sales accounted for a sound 14,2% of new passenger vehicle sales during the month.

Domestic sales of new light commercial vehicles, bakkies and mini-buses at 10,552 units during June 2024 had recorded a decrease of 3,385 units, or a loss of 24,3%, from the 13,937 light commercial vehicles sold during June 2023.

Sales for medium and heavy truck segments of the industry also performed weaker for June 2024 at 531 units and 2,061 units, respectively, which is a decrease of 203 units, or 27,7% from the 734 units sold in June 2023 in the case of medium commercial vehicles, and, in the case of heavy trucks and buses a decrease of 272 vehicles, or 11,7%, compared to the 2,333 units sold in the corresponding month last year.

The June 2024 export sales number at 28,306 units reflected an increase of 977 vehicles, or 3,6%, compared to the 27,329 vehicles exported in June 2023. For the half of 2024, exports were now 9,6% below the corresponding period 2023.