New vehicle sales reach yearly high in October

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South Africa’s new vehicle market is maintaining its recovery, with October recording the highest monthly sales total so far this year, driven largely by stronger demand for passenger cars.

Figures released by the National Association of Automobile Manufacturers of South Africa (naamsa) show that 61,890 new vehicles were sold locally during the month, 10.4% more than in October last year.

Sales also edged up from September, increasing by 234 vehicles, or 0.4%, to maintain the higher levels of activity established towards the end of the third quarter.

The market has recorded 554,081 sales in the first ten months of 2026, an increase of 12.3% compared with the same period last year.

Passenger car sales were the strongest contributor to October’s performance, increasing by 13.6% year-on-year to 45,084 units.

This was 762 vehicles, or 1.7%, higher than September.

Light commercial vehicle sales, including bakkies and minibuses, reached 13,689 units, an increase of 2.2% compared with October last year.

However, sales declined by 656 vehicles, or 4.6%, from September.

Medium commercial vehicle sales fell by 0.9% year-on-year to 770 units, while heavy truck and bus sales increased by 8.1% to 2,347 units.

Rental companies account for larger share

Rental companies accounted for 16.5% of October’s total vehicle sales, up from 13.8% in September.

Their purchases represented 21.4% of passenger car sales.

Dealer sales made up an estimated 78% of the total, down from 81.4% the previous month.

Government purchases accounted for 3.3%, while corporate fleet sales contributed 2.2%.

Vehicle exports also improved in October, reaching 38,117 units.

This represents a 6.3% increase compared with October last year and a 21.1% improvement in September.

The recovery follows declining export volumes since February, with stronger performances in selected segments, particularly light commercial and extra-heavy commercial vehicles.

Despite the improvement, cumulative exports for the first ten months of 2026 remained 8.3% below the corresponding period last year.

South Africa’s new energy vehicle market continued to grow, with sales for the first nine months of 2026 reaching 22,389 units.

This has already surpassed the 16,703 vehicles sold during the whole of 2025.

Rechargeable vehicles, comprising plug-in hybrids and battery electric vehicles, accounted for 50.5% of year-to-date new energy vehicle sales in September, slightly exceeding traditional hybrids at 49.5%.

Naamsa says sustaining this growth will depend on expanding charging infrastructure, supportive policy frameworks and increased local manufacturing.

Rising fuel prices added to pressure on motorists and transport operators in October, with inland 95-octane petrol reaching R30.25 a litre from 7 October, a 12.4% increase in September.

The National Automobile Dealers’ Association (NADA) says consumers remain cautious about affordability despite the growth in vehicle sales.

Chairperson Brandon Cohen says the modest increase from September should be viewed in the context of continued pressure on household budgets.

“October’s sales are encouraging, but the small increase from September calls for a balanced reading of the results. Customers are still making careful decisions about what they can afford, and a stronger overall sales figure does not mean that pressure on household budgets has eased.”

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