The sustained high cost of credit together with consumer caution in the wake of the global economic crisis continued to impact on the South African vehicle market in November with sales down 30% on November 2007. Vehicle exports, although constrained to an extent by diminished demand in overseas markets, were 12% up on October’s exports and show a gain of 86% over November 2007.

NAAMSA vehicle sales figures released today show a total market in November of 36 638 units, 21 943 of those passenger vehicles, 12 136 light commercials, 868 medium commercials and 1 691 heavy trucks and buses. Total vehicle sales for the year to date are 500 617, 20,7% down on the same period in 2007.

“The full realisation of the magnitude of the global economic upheaval filtered through to South Africa through late October and November to magnify the effect of the high cost of credit and inhibit sales of motor vehicles and other big ticket items,” says Johan van Zyl, President and CEO of Toyota South Africa.

“Despite the rapid intervention of governments throughout the developed world, markets remain on edge and highly volatile. Pre-existing negative factors in the South African economy have been compounded by global events and we can now expect, as is the case across the world, that consumer spending will remain subdued as we move into 2009. This implies that there will be further downward pressure on vehicle sales in the coming months.”

Toyota delivered 9 005 vehicles in South Africa in November for a market share of 24,6%. The company accounted for one in four vehicle exports during the month and had a 26% share of total domestic and export vehicle sales.

The Hilux was again the top selling vehicle in South Africa with 2 283 sales, followed by the Yaris with 2 125 deliveries. The popular Dyna range was the top seller in the Medium Commercial market. The Quantum came in fourth in the overall sales rankings with 1 537 sales.