The most popular passenger cars for May 2018

The National Association of Automobile Manufacturers of SA (Naamsa) have announced that car sales are up 2.4% in a year-on-year analysis. Export sales showed an improvement of 13.9%. This has resulted in positivity regarding the economic situation in SA. Cyril Zhungu, Head of Dealer Automotive Retail at Standard Bank says, “South Africa’s vehicle market continues to show positive growth, with sales expected to reach 2% year on year in 2018 at 568,000 vehicles. The market is largely being driven by the lower and medium segments –and we expect strong activity to continue. Consumers have been able to deleverage their debt over the past 10 years since the financial crisis of 2008/9 and debt to income has dropped over that period. This has allowed consumers to continue participating in the credit market as affordability has improved and combined with lower price inflation is driving confidence,” he said.

While Zhungu said that stable inflation, low interest rates, and sales incentives from manufacturers, together with improved confidence, continues to underpin the positive outlook. He also pointed out that the recent increase in the oil price is a downside risk to the outlook given the impact to changes on motoring costs to the average consumer.

“Furthermore, the drift in cost inflation caused by oil prices, among others, will filter through into transport costs, which translates into a higher overall cost of living,” he concluded.

Below are South Africa’s 10 best-selling passengers cars for May 2018:

1. Volkswagen Polo

2. Volkswagen Polo Vivo

3. Toyota Corolla/Auris/Quest

4. Toyota Fortuner

5. Hyundai Grand i10

6. Toyota Etios

7. Kia Picanto

8. Renault Kwid

9. Toyota RAV4

10. Hyundai Creta

 

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