The numbers tell a story of industry’s ups and downs

This iconic publication is the official source of all automotive trade data and other relevant information to the automotive industry in South Africa.

In a taxing year, the domestic automotive industry in 2024, for the first time since the 2020 pandemic, encountered a modest downturn in both domestic new-vehicle sales and vehicle exports. This can be attributed to several factors, including persistent inflationary pressures, climate effects on operations and geopolitical instability.

• The export value of vehicles and automotive components reflected a decrease of R2 billion (0.7%), from the record R270.8 billion in 2023 to R268.8 billion in 2024, comprising 14.7% of total South African exports.
• Vehicle exports declined to 390 844 units in 2024, down from the record 399 809 units exported in 2023.
• Automotive component exports reflected a decrease of R3.5 billion from R66.9 billion in 2023 to R63.4 billion in 2024.
• The domestic automotive industry exported to 155 countries in 2024, up from the 148 destinations in 2023 with the export value more than doubling in the case of 39 of these countries from 2023 to 2024.

Despite a stronger year-end performance supported by strong seasonal sales to the vehicle rental industry, easing inflation and two interest rate cuts, new-vehicle sales decreased by 3.0% to 515 850 units in 2024, compared to the 531 552 units sold in 2023.

The confluence of positive economic indicators and the resilience of the passenger car segment during the last quarter of 2024 suggest a potential rebound for the new-vehicle market in 2025 to return to the pre-pandemic level after five years.

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