KwaZulu-Natal floods slash exports, slow down new-vehicle sales momentum
Domestic new-vehicle sales in May inched up 2.1%, to 39 177 units, compared with the same month last year.
Naamsa | The Automotive Business Council says this marginal growth reflects the damage caused by the severe floods in KwaZulu-Natal in April, as well as the myriad of headwinds increasingly bruising economic growth and consumers’ disposable income. These include rising interest rates, soaring fuel prices and continued load-shedding.
The new-passenger-car market reached 27 437 units in May – a 13.8% jump on the same month last year.
The car rental industry supported the new-passenger car market during the month and accounted for 10% of sales.
Sales of new bakkies, vans and minibus taxis bore the brunt of the flooding in KwaZulu-Natal, with sales dropping by 22.6%, to 9 221 units.
The Toyota plant in Durban, which assembles bakkies and minibus taxis, saw very little production for the entire month of May.
May medium-truck sales grew by 11.8%, reaching 614 units, while heavy-truck and bus sales grew by 7.1%, to 1 905 units.
Exports was also heavily impacted by the flooding, and plummeted by 30%, to 25 786 units.
This comes as Toyota also produces vehicles for export, while the Port of Durban and its various logistics chains were also damaged during the natural disaster. Some key export markets also experienced challenges, notes Naamsa.
Year-to-date vehicle exports from South Africa are now 6.2% below the figure for the same period last year.
Comments
Research Reports
Projects
Latest Multimedia
Showroom
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
