Car sales: Toyota strums the guitar | Rhewal

(Photo: Provided)

Car sales are still gradually increasing, but the interest rate increases may put a damper on this.

There were 50,157 vehicles sold locally in March, 308 less than in the same period last year. As for passenger vehicles, 31,631 cars were sold, 2,157 less than in March last year. However, more light commercial vehicles (15,529) were sold than at the same time last year and exports (31,134) also rose.

Mikel Mabasa, CEO of the National Association of Motor Manufacturers (Naamsa), said the recent interest rate increase has already had an effect on consumers when they have to make decisions about buying a new vehicle as disposable income is shrinking.

“The Human Rights Day holiday and the EFF’s protest also affected car sales in March. While vehicle production is increasing and vehicle sales and export sales are also steadily increasing, the continued monetary policy tightening, local and global slowing growth, as well as energy shortages will have a greater impact on the overall performance of the industry.”

The top ten brands for local sales look like this:

1. Toyota – 13 406
2. Volkswagen– 6 139
3. Suzuki – 3 734
4. Hyundai – 3 032
5. Nissan – 3 012
6. Ford – 2 993
7. Isuzu – 2 691
8. Renault – 2 058
9. Friends – 2002
10. Be – 1 833

The best-selling vehicles in March:

1. Toyota Hilux (3 920)
2. Isuzu D-Max (2 289)
3. Ford Ranger (2 247)
4. VW Polo Vivo (2 016)
5. Toyota Corolla Cross (1,839)
6. Toyota HiAce (1 600)
7. Toyota Fortuner (1 409)
8. Nissan NP200 (1 404)
9. Toyota Starlet (1 276)
10. Suzuki Swift (1 248).