The National Association of Automobile Manufacturers of South Africa (NAAMSA) has released the new vehicle sales statistics for June 2020, which shows a 147% increase from May.
The automotive industry contributes significantly to South Africa’s Gross Domestic Product (GDP) in both manufacturing and retail.
Motoring also accounts for 27.6% of the country’s manufacturing output and is responsible for approximately 457,000 jobs across the South African economy’s formal sector.
New car sales are therefore an important economic indicator of the health of the country’s economy.
In June 2020, 31,867 new vehicles were sold in South Africa, which is a big increase from the 12,932 vehicles which were sold in May 2020.
While the month-on-month growth is encouraging, it is still a 31% decrease from June 2019.
The year-to-date new vehicles sales also do not make for good reading and clearly shows the economy is still depressed.
Between January and June 2020, a total of 162,622 new vehicles were sold.
This represents a decline of 37%, which is mainly a result of the extended lockdown that prohibited vehicle sales in April and part of May.
The table below provides an overview of the new vehicle sales in June 2020 and the month-on-month and year-on-year changes.
|New Vehicle Sales|
|Market||June 2020||May 2020||Month-on-Month Change|
|Extra Heavy Commercial||1,280||414||209.2%|
|Market||June 2020||June 2019||Year-on-Year Change|
|Extra Heavy Commercial||1,280||1,147||11.6%|
New vehicle sales since 2019
The chart below shows the impact of the lockdown on new vehicle sales in South Africa.