Vehicle sales improve
2010-04-08
NEW vehicle sales are gaining momentum and the international demand for South African built vehicles are also registering solid growth, indicating a much improved vehicle market in 2010. A total of 43 591 new vehicles were sold in March this year, indicating a jump of 20,1% over the same month last year. According to statistics released by the National Association of Automobile Manufacturers of South Africa (Naamsa) a total of 120 946 vehicles were sold in the first quarter of 2010, which is 18,7% better than the corresponding first quarter of 2009, when the effects of the global recession were acutely felt. Toyota South Africa Motors (TSAM) sold 9 218 vehicles and exported a further 5 645 units, which converts to a local market share of 21,1% and 26,5% of vehicle exports. “The new vehicle market has shown significant and somewhat unexpected growth in the first quarter of the year,” says Andrew Kirby, Senior Vice President of Sales and Marketing at Toyota South Africa Motors. “Growth is in no small measure buoyed by forward purchases from local vehicle rental companies, who are ramping up before the 2010 Soccer World Cup in June this year. “We do however see greater activity on the dealer floor, driven by improved economic conditions and lower interest rates.” “At Toyota we have seen a marked increase in export orders for locally built vehicles. The growth in vehicle exports has mirrored the growth in Toyota’s local sales and it is moving in a positive direction towards much needed economies of scale, both for Toyota and for the vehicle export industry as a whole.” TSAM continued to register strong sales in virtually all its model ranges. The company has exceeded its internal sales targets for the quarter and, with exceptional sales of the locally produced Corolla, Hilux and Fortuner models, have been required to increase vehicle production to satisfy both local and international demand. With sales of 3 083 units the Hilux once again emerged as South Africa’s best selling vehicle and demand for its limited edition Hilux Legend 40, which celebrates 40 years of Hilux sales in South Africa, has been exceptional. Further gains were recorded by the Corolla (1 684 units) and the Fortuner (1 036 units) to maintain their positions at the top of their respective segments. “With the first quarter now behind us, we believe that the market could, barring any unforeseen events, show double digit growth in 2010. “One should remain cognisant of the fact that this growth follows two years of severe declines both locally and internationally,” says Kirby.
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