South Africa sees significant surge in electric vehicle sales

Daniel Puchert

Journalist
Staff member
Joined
Mar 6, 2024
Messages
664
South Africa's electric car sales surge

The National Association of Automobile Manufacturers of South Africa's (Naamsa's) quarterly review for Q1 2024 shows a significant increase in new energy vehicle (NEV) sales compared to the same period the year before.

According to its data, 3,042 NEVs were sold in South Africa between January and March 2024, compared to 1,665 vehicles sold during the same period in 2023. This represents an increase of nearly 83%.
 
“[It] is a crucial step in attracting investments, fostering innovation, and enhancing the growth of the sector within South Africa,” said Naamsa.
Only 10 years slow... I suppose that could be called responsive, in context of their track record, if you squint just right.
 
Wow. Significant surge. :unsure:
Rapid growth, is rapid growth. If you could get 50%+ growth on your investments, then you'd be guaranteed to be rich in a decade or two, almost regardless of how low you start. As in - Rich AF. The EU only breached 1% EV market share some time 2016-2017. Not that long ago. Today they're at 30%.

Or... Will it only stop being funny when one quarter EVs are at 5% market share, and the same quarter the next year 10%? Pretty much the same growth rate...
 
Rapid growth, is rapid growth. If you could get 50%+ growth on your investments, then you'd be guaranteed to be rich in a decade or two, almost regardless of how low you start. As in - Rich AF. The EU only breached 1% EV market share some time 2016-2017. Not that long ago. Today they're at 30%.

Or... Will it only stop being funny when one quarter EVs are at 5% market share, and the same quarter the next year 10%? Pretty much the same growth rate...
I guess the main question is whether it is sustainable with SA's current infrastructure. Also consider that only a small fraction of vehicles on the road are "new": the average age is 10y+ and getting older.
 
Back
Top