Hybrid, EV, sub-compact sales to benefit from rising fuel price – NADA
February’s new-vehicle sales have brought an interesting statistic to light, says National Automobile Dealers’ Association (NADA) chairperson Mark Dommisse.
The combined sales of electric, plug-in hybrid and traditional hybrid vehicles rose by 535% on a year-to-date basis, from only 34 in the first two months of 2021, to 216 units in the same months this year.
“This can be partly attributed to the strong take-up of the new Toyota Corolla Cross, which was South Africa’s best-selling car in February, and where there is encouragingly high demand for the hybrid variant of this model.
“Of course, the introduction of many new electric models from premium brands such as Audi, BMW and Mercedes will only add to this tally going forward.”
The rising fuel price, linked to a crude oil price that is now well above $100 a barrel on the back of Russia’s invasion of Ukraine, will undoubtedly see the importance of fuel efficiency take centre stage when buying decisions are made, notes Dommisse.
“The conflict unravelling in Europe is very worrying and together with the fuel price shock this month will, in all likelihood, affect sales going forward.
“But, we see a sweet spot in the passenger-car sector, namely the competitive sub-compact segment, where the wide range of models available use small capacity engines that are light on fuel.
“This segment should continue to see even stronger growth in the future,” says Dommisse.
February saw booming new-vehicle sales in South Africa as the monthly total soared by 18.4%, to 44 229 units, compared with the 37 369 units retailed in the same month a year ago.
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