{"id":806240,"date":"2025-01-10T10:30:00","date_gmt":"2025-01-10T08:30:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=806240"},"modified":"2025-01-10T12:14:49","modified_gmt":"2025-01-10T10:14:49","slug":"vehicle-sales-take-a-huge-hit-in-south-africa-in-2024","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/motoring\/806240\/vehicle-sales-take-a-huge-hit-in-south-africa-in-2024\/","title":{"rendered":"Vehicle sales take a hit in South Africa in 2024"},"content":{"rendered":"\n

The South African new-vehicle market experienced its third consecutive month of growth in December 2024, but this was still not enough to stop the slowdown in annual sales in the industry.<\/p>\n\n\n\n

Aggregate industry sales reached 41,273 units, a 2.5% increase compared to December 2023.<\/p>\n\n\n\n

However, despite this late surge, it was not enough to give the industry the boost that it needed.<\/p>\n\n\n\n

Total aggregate vehicle sales for the year declined by 3% to 515,712 units, marking the lowest point since the COVID-19 pandemic. <\/p>\n\n\n\n

Automotive Business Council Naamsa said that this downturn reflects the broader economic challenges faced by the country in 2024.<\/p>\n\n\n\n

Passenger car sales offered a glimmer of hope, recording a 1.1% increase for the year, while all commercial vehicle segments experienced declines. <\/p>\n\n\n\n

The December growth was primarily fueled by an 8.2% rise in passenger car sales, with the rental industry playing a significant role.<\/p>\n\n\n\n


Sector<\/strong><\/td>		2020<\/strong><\/td>2021<\/strong><\/td>2022<\/strong><\/td>2023<\/strong><\/td>2024<\/strong><\/td>2024 \/<\/strong>2023<\/strong>% Change<\/strong><\/td><\/tr>
Cars<\/strong><\/td>246,541<\/td>304,338<\/td>363,682<\/td>347,379<\/td>351,302<\/td>+1.1%<\/mark><\/td><\/tr>
Light Commercials <\/strong><\/td>110,912<\/td>133,078<\/td>135,711<\/td>151,490<\/td>133,254<\/td>-12%<\/mark><\/td><\/tr>
Medium Commercials <\/strong><\/td>6,735<\/td>7,520<\/td>8,308<\/td>8,252<\/td>7,714<\/td>-6.5%<\/mark><\/td><\/tr>
Heavy Trucks, Buses<\/strong><\/td>16,018<\/td>19,555<\/td>21,841<\/td>24,654<\/td>23,442<\/td>-4,9%<\/mark><\/td><\/tr>
Total Vehicles<\/strong><\/td>380,206<\/strong><\/td>464,491<\/strong><\/td>529,542<\/strong><\/td>531,775<\/strong><\/td>515,712<\/strong><\/td>-3,0%<\/mark><\/strong><\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n

According to Naamsa, several factors contributed to the overall decline in new vehicle sales in 2024:<\/p>\n\n\n\n