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Entry-level cars are selling reallly well in South Africa right now

26 January 2022 11:30 AM
Tags:
The Money Show
Car sales
Bruce Whitfield
New car Sales
Motus
vehicle sales
new vehicle sales
Osman Arbee
used cars

The Money Show’s Bruce Whitfield interviews Motus CEO Osman Arbee.

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.

Suzuki is selling more of its cars in South Africa right now than ever. © boggy22/123rf.com

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




26 January 2022 11:30 AM
Tags:
The Money Show
Car sales
Bruce Whitfield
New car Sales
Motus
vehicle sales
new vehicle sales
Osman Arbee
used cars

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