Key features: Third Quarter 2022
• The strong performance in new vehicle sales increasing by 16,9% compared to the corresponding quarter 2021 and 17,6% compared to the previous quarter should be seen in the context of the impact of the adverse economic disruptions that occurred during the third quarter 2021 and the recovery from the impact of the severe flooding in KwaZulu-Natal in the previous quarter 2022
• New energy vehicle [NEV] sales by 13 industry brands increased by 29,1% from 738 units in the second quarter to 953 units in the third quarter 2022
• Third quarter 2022 industry employment reflected an increase of 690 jobs to reach 34,300 positions at end September 2022
• Average industry capacity utilisation levels during the third quarter 2022 reflected an overall increase in line with the recovery in vehicle production following the impact of the KwaZulu Natal flooding disaster during the previous quarter
• Aggregate capital expenditure by the major vehicle manufacturers in 2021 recorded its second highest level on record at R8,8 billion
• South African vehicle production during the third quarter 2022 reflected a substantial increase of 49,2% compared to the corresponding quarter 2021 when vehicle production was negatively affected by the cyberattack on Transnet’s operations as well as the adverse economic disruptions in the country at the time
• Third quarter 2022 vehicle exports increased by a massive 92,2% compared to the corresponding quarter 2021 which was characterised by the cyberattack on Transnet’s operations and force majeure declared which negatively impacted port operations at the Durban port and consequently the industry’s vehicle export performance at the time; and
• The naamsa CEOs Confidence Index, as an in-house leading business confidence indicator of current and future developments in the domestic automotive industry, reflects the sentiment expressed by the naamsa CEOs for the third quarter 2022 compared to the third quarter 2021 as well as automotive business conditions and the country’s economy in general for the next 6 months.
Also view:
Vehicle Finance, Car Insurance and Road Safety
Buying and Selling a Vehicle – Informed decisions and the Vehicle Retailer
The Online Vehicle Retail Market and Safely Selling Vehicles Online