Johannesburg - Despite gloomy economic conditions, junk credit ratings and fuel price hikes, South Africans are still buying new vehicles at a fairly healthy rate.
November was the sixth month in a row that new vehicle sales improved over the corresponding months last year, and the 49 754 cars and commercial vehicles sold last month was 7.2 percent higher than November 2016. New cars performed very solidly with a 16.4 percent sales hike over November 2016, though bakkies were down 7.4 percent.
Many cash-strapped South Africans are affording these cars by taking out long-term finance deals. According to Absa, 94.2 percent of applications are for a 72-month finance term while more than a third (36.3 percent) apply for balloon payments.
With a month to go, it’s expected that new-vehicle sales for the year will be two percent higher than in 2016.
Next year may be a different story however, as the economy’s hit by the impact of SA’s downgraded credit ratings in the form of reduced consumer and business confidence. Bad news for affordability is that the rand’s expected to depreciate further against international currencies towards year-end and in 2018, which will probably lead to price hikes.
On the flipside, carmakers will continue launching new models and selling them with attractive incentives, while predicted stable interest rates should help keep sales flowing at a reasonable level.
Last month it was the usual suspects filling the top-selling positions, with the Toyota Hilux coming out ahead of the Ford Ranger in the bakkie wars, while in cars the older Polo Vivo slightly outsold the new-generation Polo.
The imminent exit of Chevrolet from SA sees cars like the Spark and Utility selling at a trickle, as the last few leave dealer floors.
THE NUMBERS: NOVEMBER 2017
Top 25 overall
1. Toyota Hilux 32432. Ford Ranger 30583. VW Polo Vivo 19004. VW Polo 18485. Toyota Corolla/Auris/Quest 17116. Toyota Etios 15417. Toyota Quantum 15208. Isuzu KB 14999. Nissan NP300 146510. Ford Ecosport 132411. Toyota Fortuner 108012. Ford Fiesta 106313. Nissan NP200 97614. Kia Picanto90315. Hyundai i20 81916. Renault Kwid 75717. Toyota Rav4 74718. VW Golf70219. Ford Everest 66920. Kia Rio 55521. Ford Figo 51522. Hyundai Tucson 49423. VW Tiguan 48824. Nissan NV350 Taxi 39325. Audi A3377
Budget Hatch/Sedan
VW Polo Vivo 1900Toyota Etios 1541Kia Picanto 903Renault Kwid 757Ford Figo 515Datsun Go 364Suzuki Swift 339Hyundai Grand i10 355Hyundai i10 331Renault Sandero263Nissan Micra212Suzuki Celerio 186Datsun Go+ 179
Compact Hatch/Sedan
VW Polo 1848Ford Fiesta 1063Hyundai i20 819Kia Rio555Toyota Avanza 454Hyundai Accent 328Nissan Almera 305VW Up 261Mazda2 206Renault Clio 200Opel Corsa 164Audi A1 140Honda Jazz 121Toyota Aygo 109Suzuki Ertiga 98Suzuki Baleno 83
Compact/Medium Hatch/Sedan
Toyota Corolla/Quest/Auris 1711VW Golf 702Ford Focus 440Audi A3 377Mazda3265VW Jetta 252Renault Megane 215Opel Astra 140Hyundai Elantra 119Volvo V40 78
Compact Crossover/SUV
Ford Ecosport 1324Hyundai Creta 359Mazda CX-3 325Honda BR-V 200Opel Mokka X 181Suzuki Ignis 142Renault Captur 132Suzuki Jimny 85Mahindra KUV100 54Suzuki Vitara 46Jeep Renegade 40
Compact/Medium Crossover/SUV
Toyota Rav4 747Hyundai Tucson 494VW Tiguan 488Mazda CX-5 295Nissan Qashqai 269Nissan X-Trail 226Kia Sportage 225Renault Duster 153Honda H-RV 113Audi Q5 100Renault Kadjar 100Toyota C-HR 98Audi Q3 77Honda CR-V 70Ford Kuga 69Peugeot 3008 43
Large Crossover/SUV (sub R1-million)
Toyota Fortuner 1080Ford Everest 669Toyota Land Cruiser200110Toyota Prado 91Land Rover Discovery Sport 71Chervolet Trailblazer 56Jaguar F-Pace 53Jeep Grand Cherokee 51
Bakkies (all)
Toyota Hilux 3243Ford Ranger 3058Isuzu KB 1499Nissan NP300 Hardbody 1465Nissan NP200 976Hyundai H100 Bakkie 284VW Amarok 254Chev Utility 198Toyota Landcruiser PU 168Mahindra Scorpio Pik-Up 138Kia K2700 129Nissan Navara117Mazda BT-5070Mahindra Bolero 62Mitsubishi Triton 50Fiat Fullback 29