Naamsa press release:
Total new domestic vehicle sales in September 2024 stand at 44,081 units, showing a decline of 1,889 units, compared to the 45,970 vehicles sold in September 2023.
Export sales also fell by 13,535 units, to 21,964 units in September 2024, from the 35,499 vehicles exported in the corresponding month last year.
The new passenger car market in September 2024, at 30,218 units, registered an increase of 112 cars, or a rise of 2%, compared to the 29,626 new cars sold in September 2023.
Interesting is to see that Sales to the car rental industry accounted for a substantial 28% of new passenger vehicle sales during the month.
Domestic sales of new and light commercial vehicles, bakkies, and mini-buses at 10,914 units also shows a decrease of 2,257 units, or a loss of 17,1%, from the 13,171 units sold in September 2023.
The medium and heavy truck sales presented a mixed performance yet again.
Medium commercial vehicles saw an increase of 821 units, compared to the 817 units sold in September 2023. However, heavy trucks and buses experienced a decline of 314 units or compared to the 1,849 units sold in the same month last year.
Economic indicators in September 2024 showed positive trends, including the first interest rate cut in four years by the South African Reserve Bank. Lower fuel prices further boosted consumer confidence, offering some relief to household budgets.
As the country anticipates further interest rate reductions, the costs of borrowing are expected to decline, which may stimulate economic activity. Since the decline in new vehicle sales began in August 2023, expectations are rising that the new vehicle market could see improvement for the remainder of the year due to favourable economic conditions.
Speed-over-distance law enforcement:
No specific details were given yet, but the e-toll infrastructure could soon serve as a tool to calculate the time it takes for a vehicle to travel between two points, known as “average speed-over-distance”! This is a modern way to prosecute motorists exceeding speed limits with checkpoints already in place. It can also serve as a surveillance system for the tracking and recovery of stolen vehicles.
This helps ensure motorists comply with speed limits, as those found exceeding the limit can be fined. This will also contribute to increase and improve road safety and reduce speeding on our national roads!
The CCTV cameras will also be integrated into Gauteng’s broader crime-fighting infrastructure.
Gauteng Premier Panyaza Lesuf confirmed that the provincial government had taken control of Sanral’s e-toll CCTV network, merging it with existing surveillance.
Another drop in fuel prices:
2024 has been a remarkably good year for fuel prices, with month-on-month reductions showing a massive decline over the past 12 months.
The Department of Petroleum and Mineral Resources has published the official fuel price adjustments that will kick in on Wednesday, 2 October 2024.
with prices coming down by between R1.06 and R1.14 per litre for petrol and between R1.12 and R1.14 per litre for diesel. The big reductions in the fuel price is a reflection of a much weaker oil price in 2024.
Hannover annual International Motor Show:
Most people that have been to the IAA show will tell you that the show’s theme was very ‘e’ – battery-powered electric vehicles oriented. The big “thing” on the Daimler Truck stand was the new eActros 600. With a travel range of 500kms, this model is now ready for the market with some 2000 orders already received from operators. The challenge now is the roll out of charging infrastructure around Europe. According to sources from Daimler Truck, 35000 high powered chargers will need to be installed by 2030 which means that 400 needed to be installed every month. This will only be possible and achieved if politicians come to the ‘e’ party and join the move towards decarbonisation.
Be as it may, I personally don’t think we will see these big ‘e’ commercial trucks on South African roads in near future.
Apparently the IAA visitors were also very surprised to see the number of Chinese companies exhibiting. China is driving into all markets and the European manufacturers will have to do lots more on marketing etc to keep market share.
In closing a big thank you once again to Naamsa for on-time reporting and Businesstech & Fleetwatch for valuable market and financial information.
-Cobus Lourens-
