Statistics released by the Department of Trade and Industry on Tuesday showed that March new vehicle sales dipped 0.2%, to 55 363 units, compared with the same month last year.

The South African new car market remained under pressure during March and, at 36 798 units, declined 814 units, or 2.2%, compared with March last year.

Domestic sales of new light commercial vehicles, bakkies and minibuses, at 15 848 units, expanded by 3.7%, while sales of medium trucks, at 947 units, dropped 6.1%.

Heavy truck and bus sales, however, gained 14.9%, to 1 770 units.

March export sales from South Africa dropped by 11.2% compared with the same month last year, to 24 660 units.

The National Association of Automobile Manufacturers of South Africa (Naamsa) noted in a statement that exports should pick up “substantially” from the middle of the year, when Mercedes-Benz South Africa started shipping the new C-Class.

“Prospects for the balance of the year will continue to be affected by subdued economic growth, above-inflation new vehicle price increases as a result of exchange rate weakness, and upward pressure on interest rates,” noted Naamsa.

“Consumer sentiment remain under pressure due to high levels of indebtedness, sharp increases in energy and transport costs and e-tolling in Gauteng. These factors will influence consumer demand, principally in the case of the new car market. Domestic trading conditions are anticipated to remain difficult with pressure on margins, particularly in the new car and light commercial vehicle sectors.”

WesBank reported on Tuesday that the demand for new vehicle finance, as measured by finance applications at the company, contrasted starkly with the market’s performance in March.

New vehicle applications for the month showed an increase of 17.8% compared with March last year.

The daily average for finance applications last month reached an all-time high, at nearly 6 000 applications a day, said the company in a statement.

However, car buyers were spending less, as reflected in the average transaction value, which dropped 3.3% since December 2013.
 
More buyers were finding better value in the used vehicle market, which had grown 9.5% in March compared with the same month last year.

Top Sellers in March:
Cars and Bakkies:

1. Toyota Hilux 3 415
2. Volkswagen Polo Vivo 2 553
3. Toyota Etios 2 364
4. Ford Ranger 2 162
5. Volkswagen Polo 2 125
6. Nissan NP200 1 654
7. Chevrolet Utility 1 437
7. Toyota Corolla/Auris 1 437
9. Isuzu KB 1 432
10. Ford Figo 1 203

Medium Trucks and Vans:

1. Hino 300 Series 229
2. Mercedes-Benz Sprinter 184
3. Iveco Daily 131

Heavy Trucks:

1. Hino 500 Series 138
2. Isuzu F-Series 94
3. Fuso HCV 57

Extra-Heavy Trucks:

1. Volvo FH 157
2. Mercedes-Benz Actros 150
3. Mercedes-Benz F-L Argosy 133

Buses:

1. Scania Bus 36