VW grabs back 2nd! SA’s best-selling brands in May 2024
After brief relief in April, South Africa’s new-vehicle market again suffered a year-on-year decline in May 2024. Here’s your overview, including Mzansi’s most popular brands, with VW returning to number 2…
After South Africa’s new-vehicle market finally broke its 8-month streak of year-on-year sales declines in April, the industry unfortunately returned to negative territory in May 2024. Indeed, the market total suffered a significant 14.2% year-on-year drop last month, ending on 37 105 units. That figure furthermore represents a 2.8% month-on-month decline.
According to Naamsa, “national election jitters applied a handbrake on purchases of big-ticket items such as vehicles” in May 2024 (with the month thus also featuring an additional public holiday), bringing the April’s brief but “welcomed uptick in new-vehicle sales” to a grinding halt.
Out of the total reported industry sales in May, Naamsa estimates that 89.4% represented registrations via the dealer channel, while 4.5% were sales to the vehicle-rental industry, 3.1% to industry corporate fleets and 3.0% to government.
None of the broader segments escaped unscathed. The new passenger-vehicle market, for instance, fell 11.7% year on year to 24 367 units (with about 5.7% coming via the rental channel), while even the usually robust light-commercial vehicle segment suffered a considerable 19.5% year-on-year decline to 10 334 units.
Exports, too, registered what Naamsa described as a “substantial” year-on-year decrease of 19.1% to 24 235 units in May 2024. For the record, year-to-date exports (after the opening 5 months of 2024) fell 11.6% below the corresponding period in 2023.
Meanwhile, Brandon Cohen, Chairperson of the National Automobile Dealers’ Association (NADA), said the “general election and the accompanying uncertainty about South Africa’s future have severely impacted vehicle sales in May”.
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“Buyers were very jittery in the run-up to the elections, leading to subdued activity, although there was a noticeable uptick in deliveries on May 30 and 31,” Cohen added.
Lebo Gaoaketse, Head of Marketing and Communication at WesBank, suggested the “May sales hiatus shouldn’t have been unexpected”.
“There was a direct correlation between demand as measured by applications for finance and the sales volumes for May. Applications for new-vehicle finance declined by double digits, while used vehicles maintained stronger interest, showing the weak demand as consumers and businesses waited for elections,” said Gaoaketse.
New-vehicle sales summary for May 2024
- Aggregate new-vehicle sales of 37 105 units decreased by 14.2% (6 137 units) compared to May 2023.
- New passenger-vehicle sales of 24 367 units decreased by 11.7% (3 212 units) compared to May 2023.
- New light-commercial vehicle sales of 10 334 units decreased by 19.5% (2 498 units) compared to May 2023.
- Export sales of 24 235 units decreased by 19.1% (5 712 units) compared to May 2023.
10 best-selling automakers in South Africa in May 2024

Yes, you guessed it – Toyota was again South Africa’s strongest-selling automaker in May 2024 and again by quite a margin. The Japanese firm sold 8 795 units (including the Lexus and Hino brands), a figure that represents a 3.0% month-on-month increase.
After losing 2nd place in April, the Volkswagen Group (which includes Audi sales) wrestled back the runner-up position in May 2024, ending the month on 4 939 units. As such, Suzuki – which had leapfrogged the German company in April – fell back down to 3rd with 4 101 registrations (a 16.2% month-on-month decline).
Meanwhile, Ford (2 860 units) and Hyundai (2 185 units) held steady in 4th and 5th place, respectively. Isuzu’s tally increased to 1 626 units, which was enough for the Japanese company to climb a ranking to 6th and push Chery (1 609 units) down a spot to 7th. Nissan (1 522 units) moved up a position to 8th, while GWM (1 205 units) slipped one to ninth. Renault (1 110 units) again closed out the table.
Outside of the top 10, the figures suggest the BMW Group (with a Naamsa-estimated 1 068 units) claimed 11th place, again finishing ahead of Kia (1 003 units) and Mahindra (941 units). Meanwhile, Stellantis (515 units) climbed a position to 14th, pushing ahead of Mercedes-Benz (with a Naamsa-estimated 478 units).
1. Toyota – 8 795 units
2. Volkswagen Group – 4 939 units
3. Suzuki – 4 101 units
4. Ford – 2 860 units
5. Hyundai – 2 185 units
6. Isuzu – 1 626 units
7. Chery – 1 609 units
8. Nissan – 1 522 units
9. GWM – 1 205 units
10. Renault – 1 110 units
Vehicle-sales outlook in SA for rest of 2024

So, where to from here for South Africa’s new-vehicle market? Well, though Naamsa welcomes what was a 2nd consecutive full month of no load-shedding (as well as oil prices that have remained “relatively low due to sluggish demand in the global markets”, supporting the manufacturing industry), the industry representative body points to other negative factors in the short term.
“The high lending rate, combined with high inflation and relatively lower household income, will continue to negatively impact the new-vehicle market. Once the rand exchange rate, consumer price inflation and fuel prices are under control, it will stimulate the whole economy and also the demand for new vehicles,” says Naamsa.
On the export front, Naamsa explains that the inflation rate in the United States has “remained benign over recent months, which could result in an easing of interest rates later in the year”. According to the industry representative body, this could also result in “other central banks commencing with interest rate cuts, which would support South African vehicle exports”.
Meanwhile, NADA’s Cohen says “consumers remain under significant financial strain, and although repo rates have been held steady for some time, current interest rate levels remain too high for many potential vehicle buyers”.
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“On a pragmatic note, there are some positives: load-shedding has been held off for 2 months, the elections themselves were peaceful and numerous deals are available in the market to attract buyers. Additionally, the government announced a significant over-recovery in fuel pricing … [which] will provide welcome relief at the pumps and help reduce inflationary pressure,” Cohen concludes.
WesBank’s Gaoaketse adds “while the politics will play out during June, the new-vehicle market will hopefully be able to display more positivity during the 2nd half of the year”.
“Economic conditions remain tough for consumers within pressurised household budgets. Interest rates have once again been maintained at previous levels. Although the rate remains high, some analyst outlooks indicate that inflation has peaked, which could indicate lower rates during the 2nd half of the year.
“First half sales will certainly look shaky. But we expect more positivity to enter the market during the 2nd half, assisted by improving economic conditions that will hopefully stimulate vehicle sales by opening up spending power,” says Gaoaketse.
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