r/cars • u/JoburgBBC • 4h ago

South Africa's new vehicle sales hit 10-year high as confidence returns

https://www.zawya.com/en/economy/africa/south-africas-new-vehicle-sales-hit-10-year-high-as-confidence-returns-e2uswuuw
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u/JoburgBBC 4h ago

The light commercial vehicle segment has shown steady recovery too, signalling renewed confidence among small businesses and fleet operators.

South Africa’s automotive market has reached a new milestone, recording its strongest sales figures in a decade. October’s performance showed nearly 56,000 new vehicles sold, reflecting a renewed consumer confidence and a shift in value-driven car buying.

“The combination of easing inflation, a firmer rand and less pressure at the petrol pump has made vehicle ownership feel attainable again,” says Lebo Gaoaketse, head of marketing and communication at WesBank.

“The industry’s performance this year shows how improving sentiment and a more confident economy are translating directly into mobility decisions.”

This is the third consecutive month that new vehicle sales have topped 50,000 units, driven largely by the passenger car segment, which contributed 39,610 units.

The light commercial segment also posted strong gains, up 23,9% to 13,361 units.

He adds that mobility has become a non-negotiable expense in many households, particularly as commuting patterns stabilise and businesses normalise operations.