2024 was yet another year in which South Africa’s automotive market failed to reach its true potential.
According to figures released by Naamsa, 515,712 new vehicles were sold last year, which is 3% less than the 531,775 units registered in 2023.
While passenger vehicle sales (351,302) increased by 1.1% year-on-year, light commercial vehicles saw a 12% decline.
Nonetheless, bakkies still accounted for three of the five top-selling vehicles overall in 2024, according to monthly Naamsa numbers that were tallied by IOL.
Unsurprisingly, the Toyota Hilux emerged as the country’s favourite vehicle overall, with 32,656 cumulative sales between January and December, representing a monthly average of 2,711.
Runner-up was Volkswagen’s Polo Vivo, which found 25,913 homes in 2024, or 2,159 per month on average, and it only narrowly beat the Ford Ranger, which managed 25,533 sales throughout the year.
The Toyota Corolla Cross was South Africa’s most popular SUV of 2024, and fourth overall, with a tally of 21,861, or 1,821 per month. Incidentally, a facelifted version of the Cross has just been released in South Africa - click here for the full story and pricing.
The Suzuki Swift, in sixth overall, was Mzansi’s favourite hatchback, at 15,768, ousting the Toyota Starlet (14,129) and Hyundai Grand i10 (13,634).
Only one Chinese product made the top 10, with Chery’s Tiggo 4 Pro emerging in ninth place ahead of the Volkswagen Polo, while Haval’s Jolion was China’s runner up, landing in 13th place with a tally of 9,321 units.
In the manufacturer race, Toyota cemented its 45th year of market leadership with a 24.9% market share, its volume of 128,663 being almost double that of its nearest rival Volkswagen, which recorded 66,486 sales.
Suzuki completed the podium with 59,574 sales in 2024, while Ford (32,766) and Hyundai (30,759) rounded off the top five.
In a sign of the times, two Chinese importers made the top 10, with Chery managing eighth (20,376 units) and GWM ninth (18,927).
Isuzu (23,290) and Nissan (22,286) were sixth and seventh in the ranking, while Renault (15,822) completed the top 10.
With the South African new vehicle market having rebounded during the final quarter of 2024, Naamsa expects the sector to return to growth in 2025, thanks to a number of positive economic indicators, including further anticipated interest rate cuts.
But there are risks on the downside, with the recent depreciation of the rand risking higher vehicle prices as well as more expensive fuel if the local currency does not rebound in the coming months.
IOL