Toyota is still in the lead!
Toyota is still taking the lead in South Africa’s market for the eight consecutive month now with 10,949 new products being sold in the domestic market during August. This attributes to 19.6% of the 55,722 units sold in South Africa and in a much improved export month, Toyota contributed 4,000 units which translates to 15.9% of the total export market of 25,027.
It was again Toyota Hilux leading from the front with 3,238 units sold; while the affordable Etios and Corolla Quest tallied up 1,502 and 941 units respectively.
“The market is certainly showing resilience with a 3.25% increase in sales compared to last month; this despite continued economic pressures, fluctuating exchange rates and interest rate hikes and continued growth in particular the Extra Heavy Commercial segment bodes well for infrastructure development,” says van Zyl.
“However, consumers will continue to be wary of incurring new debt. Negative sentiment due to strikes,economic confidence, international instability, interest rate movements and price increases are all factors influencing buying decisions. Continued growth in the smaller passenger car segment as well as used car market shows that affordability remains key for South African customers,” he concludes.