Ray_Leathern
With South Africa’s new-car market reeling from the knock-on effects of COVID-19, stock shortages, rising interest rates, the cost of living, inflation, the energy crisis and sky-high new-car prices, the industry has had to adapt in an effort to remain sustainable.
According to the National Association of Automobile Manufacturers of South Africa (Naamsa), in 2019, South Africa’s total domestic market for new cars, including vehicles sold and produced for export, amounted to 348 665 units. In 2021, post-pandemic, this figure was 239 267, a 31,37% drop. While unaudited figures from Naamsa suggest a 12% recovery to ± 268 000 units is on the cards for 2022, it still leaves a massive hole in SA’s car market, nearly one-quarter of the industry pre-COVID-19.
To this end,
