Entry-level cars are selling reallly well in South Africa right now
Manufacturers sold about 464 000 new vehicles in South Africa in 2021, according to the National Association of Automobile Manufacturers of South Africa (Naamsa).
In 2020, they sold around 380 000.
About 15 years ago, Wesbank was predicting manufacturers would be selling a million cars a year by now.
The Money Show’s Bruce Whitfield interviewed Motus CEO Osman Arbee about the health of the vehicle market right now and what it says about South Africa’s middleclass (scroll up to listen).
There is a shortage of vehicles, globally… Used car sales have picked up quite nicely… We’ve been selling what’s available.Osman Arbee, CEO - Motus
The market in South Africa has turned from premium vehicles into entry-level and small SUVs… If you look at the entry-level; that market is very active…Osman Arbee, CEO - Motus
For 2022, we’re looking at 500 000 new car sales… We can go up another 100 basis points this year, and I don’t believe the market will be impacted materially…Osman Arbee, CEO - Motus
This article first appeared on CapeTalk : Entry-level cars are selling reallly well in South Africa right now
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