South Africa's new car market confirmed its recovery in February 2023, with sales surging 7.3% year-on-year to 47,978 units. Year-to-date sales have risen 9.5% to 94,968 units, signaling a sustained market resurgence.

● Brand Sales Highlights

◎ Toyota retained its lead with 11,743 units sold and a market share of 24.5%, but its year-on-year growth was modest at 1.9%, accompanied by a slight dip in market share.

◎ Suzuki emerged as a standout performer, selling 6,044 units, marking a 15.8% year-on-year increase and securing a 12.6% market share, surpassing the Volkswagen Group for the second consecutive month.

◎ Chinese brands shone brightly in the South African market, with Chery selling 1,924 units (up 27.9% year-on-year) and Great Wall selling 1,713 units (up 3.4% year-on-year). Newcomers Omoda, Jetour, and Foton also demonstrated potential.

● Model Sales Highlights

◎ Toyota Hilux reclaimed the top spot with 2,683 units sold but recorded a 13.5% year-on-year decline. Meanwhile, Suzuki Swift saw a robust 44.5% year-on-year increase, underscoring the intense market competition.

01

South Africa Sales Overview and Brand Performance

South Africa's new car market achieved sales of 47,978 units in February 2023, up 7.3% year-on-year. Cumulative sales for the first two months reached 94,968 units, a 9.5% increase over the same period last year.

● Brand Sales Rankings

◎ Toyota retained its top spot with 11,743 units sold in February, representing a 24.5% market share, but its year-on-year growth was limited to 1.9%. Its market share for the year stands at 25.2%, slightly lower than last year.

◎ Suzuki's strong performance was highlighted by 6,044 units sold in February, a 15.8% year-on-year increase, and a 12.6% market share, placing it ahead of the Volkswagen Group for the second straight month.

◎ The Volkswagen Group sold 5,249 units, a 1.6% year-on-year decrease, securing a 10.9% market share.

Other notable brands included:

◎ Hyundai sold 3,074 units, up 22.4% year-on-year, with a 6.4% market share.

◎ Ford sold 2,900 units, up 6.1% year-on-year, with a 6.0% market share.

◎ Isuzu sold 2,298 units, up 9.4% year-on-year, with a 4.8% market share.

◎ Mahindra stood out with 1,610 units sold, a 52.2% year-on-year increase, and a 3.4% market share.

◎ Nissan sold 1,497 units but witnessed a significant 45.3% year-on-year decline, resulting in a mere 3.1% market share.

● Analysis of Chinese Brand Sales

The performance of Chinese brands in the South African market warrants special attention. Here are the key figures:

◎ Chery: Sold 1,924 units in February, accounting for a 4.0% market share, up 27.9% year-on-year. Cumulative sales for the year stand at 3,837 units. With stable growth and high market acceptance, Chery stands out among Chinese brands.

◎ Great Wall: Sold 1,713 units in February, capturing a 3.6% market share, up 3.4% year-on-year. Cumulative sales for the year are 3,469 units. Great Wall has maintained consistent performance, solidifying its position in the South African market.

◎ Omoda: As a newcomer, sold 772 units in February, representing a 1.6% market share. Cumulative sales for the year are 1,515 units, demonstrating good market potential.

◎ Jetour: Also a new entrant, sold 456 units in February, securing a 1.0% market share. Cumulative sales for the year are 907 units, ranking 17th with steady performance.

Collectively, Chinese brands are exhibiting a trend of diversified development. Chery and Great Wall lead in sales, ranking 7th and 8th respectively in the brand rankings. The entry of new brands Omoda, Jetour, and Foton has further enriched China's brand portfolio. While their sales volumes are still relatively small, their growth potential cannot be overlooked.

02

Model Sales and Competitive Dynamics

● Model Sales Highlights

The top ten models in South Africa's market in February showcased intense competition. Here are the detailed rankings and figures:

◎ Toyota Hilux: Sold 2,683 units, capturing a 5.6% market share, but down 13.5% year-on-year. Cumulative sales for the year are 5,240 units, reclaiming the top spot. Despite its return to the top, the year-on-year decline indicates challenges to its market dominance.

◎ Suzuki Swift: Sold 2,351 units, representing a 4.9% market share, up 44.5% year-on-year. Cumulative sales for the year are 4,979 units, ranking second. Its high cost-effectiveness and strong market demand have made it a formidable competitor.

Volkswagen Polo Vivo, Ford Ranger, and Isuzu D-Max remained in the top five, reflecting robust demand for pickup trucks and economy cars.

◎ Volkswagen Polo Vivo: Sold 2,187 units, securing a 4.6% market share, up 17.5% year-on-year. Cumulative sales for the year are 4,736 units, ranking third.

◎ Ford Ranger: Sold 2,168 units, accounting for a 4.5% market share, down 0.9% year-on-year. Cumulative sales for the year are 4,026 units, ranking fourth.

◎ Isuzu D-Max: Sold 1,924 units, capturing a 4.0% market share, up 10.6% year-on-year. Cumulative sales for the year are 3,337 units, ranking fifth.

◎ Among Chinese brands, Chery Tiggo 4 Pro ranked among the top ten with 1,147 units sold, up 21.2% year-on-year and a 2.4% market share, demonstrating Chinese brands' competitiveness at the model level.

◎ Suzuki Fronx also entered the top ten, showcasing an astonishing 223.6% year-on-year growth rate, highlighting the rapid ascension of the Suzuki brand in the South African market.

◎ Toyota Starlet Cross, as a new model, sold 1,279 units, ranking 12th, with commendable performance.

● Competitive Landscape

Traditional leader Toyota faces challenges from brands like Suzuki and Chery.

◎ Suzuki has demonstrated strong growth momentum, fueled by the outstanding performance of Swift and Fronx.

◎ The success of Chery Tiggo 4 Pro indicates that Chinese brands are gradually gaining recognition among South African consumers.

◎ Although newly introduced models from Omoda and Jetour did not make it into the top ten, their brand sales growth signals intensifying competition in the future.

Summary

South Africa's new car market experienced a 7.3% year-on-year sales increase to 47,978 units in February 2023, confirming the market's recovery trajectory.

While Toyota maintains its leading position, its market share has slightly diminished. Suzuki, with a 15.8% year-on-year increase in brand sales and impressive performances from Swift and Fronx, has emerged as a market highlight. Chinese brands are on the rise in South Africa, with Chery and Great Wall leading the way, while new brands such as Omoda, Jetour, and Foton show promising potential.