South African vehicle sales: Top 10 best-selling vehicles in October 2023

South African vehicle sales declined for the third consecutive month as the cost of borrowing and high inflation eats into South Africans disposable income.

The data for October 2023 showed sales of 45 445 according to IOL. Naamsa, the country’s automotive business council, commented on last month’s sales data: “Out of total reported industry sales of 45 445 vehicles, an estimated 36 468 units, or 80.2% represented dealer sales, an estimated 12.9% represented sales to the vehicle rental industry, 4.1% to government, and 2.8% to industry corporate fleets.”

SOUTH AFRICAN VEHICLE SALES IS UNDER PRESSURE

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THESE ARE THE TOP 10 BEST-SELLING VEHICLES FOR OCTOBER 2023

The perennial favourites such as the Toyota Hilux, Volkswagen Polo Vivo and locally-built Toyota Corolla Cross feature in the top five.

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1. Toyota Hilux – 3310

2. Volkswagen Polo Vivo – 2280

3. Toyota Corolla Cross – 2100

4. Ford Ranger – 1853

5. Toyota HiAce – 1546

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6. Isuzu D-Max – 1464

7. Toyota Starlet – 1363

8. Suzuki Swift – 1248

9. Volkswagen Polo – 1235

10. Nissan NP200 – 961

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NAAMSA WEIGHS IN ON OCTOBER VEHICLE SALES DATA

Naamsa said: “Economic constrains continued to impact new vehicle sales during the month as rising cost of living and restrictive borrowing costs were depressing demand for luxury goods.”

“The country’s weak economic growth rate, although still marginally positive, remains a key challenge for the new vehicle market going forward in view of the close correlation between new vehicle sales and the GDP growth rate.

“Alongside faster economic growth, moderate inflation and lower interest rates would go a long way to support the new vehicle market over the medium term,” Naamsa said.