CAPE TOWN - TOYOTA South Africa Motors (TSAM) claimed its highest light commercial vehicle (LCV) market share in 2020, with its Hilux and Hiace vehicles taking 41.9 percent of an overall market that slumped mainly due to Covid-19 related restrictions.
In December, Toyota recorded a market share of 45.7 percent in the LCV segment – which translated to 4 939 out of the 10 161 vehicles sold by the company last month.
With the local automotive industry posting its lowest total in 18 years, 380 449 vehicles were sold in 2020, some 29.1 percent units below the 536 612 sold in 2019.
The drop was attributed to Covid-19-related restrictions implemented last year, with the local motoring industry particularly badly hit in April and May when the country was under hard lockdown.
The National Association of Automobile Manufacturers of South Africa said: “Vehicle sales are linked to the strength of the economy and the pandemic not only deepened an existing economic recession, but its severe impact resulted in the domestic new-vehicle market in 2020 dropping back to the levels of two decades ago.”
“In the second half of the year, the local automotive industry has shown tremendous resilience – almost matching pre-Covid-19 sales in some instances… and that was most encouraging,” said TSAM Sales and Marketing Vice President Leon Theron.
BUSINESS REPORT