
Are South Africans affording new cars?
Loading player...
GUEST – Mikel MABASA – CEO of The National Association of Automobile Manufacturers of South Africa
Tough trading conditions for the motor industry last year culminated in December sales taking a dip. Naamsa, the automotive business council, released its statistics for the final month of 2023 – with figures reflecting the fifth consecutive month of year-on-year decline.
The aggregate figure for the industry was 40,329 units, versus 41,721 units in December 2022. According to the organisation, the market was still 1.3% below the pre-pandemic level in 2022 and for most of 2023 had been on track to recover to the pre-pandemic level of 2019. But growth was scuppered by a depressed economy, cost of living increases, power outages and year-end logistical constraints with vessel delays and container backlogs at ports.
Naamsa also cited the Russia-Ukraine and Israel-Palestine conflicts as disruptors of supply chains globally.
Tough trading conditions for the motor industry last year culminated in December sales taking a dip. Naamsa, the automotive business council, released its statistics for the final month of 2023 – with figures reflecting the fifth consecutive month of year-on-year decline.
The aggregate figure for the industry was 40,329 units, versus 41,721 units in December 2022. According to the organisation, the market was still 1.3% below the pre-pandemic level in 2022 and for most of 2023 had been on track to recover to the pre-pandemic level of 2019. But growth was scuppered by a depressed economy, cost of living increases, power outages and year-end logistical constraints with vessel delays and container backlogs at ports.
Naamsa also cited the Russia-Ukraine and Israel-Palestine conflicts as disruptors of supply chains globally.

