According to naamsa | the Automotive Business Council, February new vehicle sales grew 18.4% compared to February 2021 to 44,229 units, a performance approaching volumes realised during the second half of 2019.
According to naamsa | the Automotive Business Council, February new vehicle sales grew 18.4% compared to February 2021 to 44,229 units, a performance approaching volumes realised during the second half of 2019.
“Despite the traditionally short February selling month and in the face of interest rate hikes and fuel price increases, new vehicle sales performed reassuringly well during the month,” says Lebogang Gaoaketse, Head of Marketing and Communication at WesBank. “Consumer demand was strong during February, particularly for new vehicles as opposed to used, borne out by WesBank’s 14.2% increase in finance applications for new vehicles alone.”
That activity was particularly strong on the passenger car dealer floor, sales through that channel growing 27.9% during February, well ahead of market growth. Overall passenger car sales grew 22.4% to 29,563 units with a slightly flatter performance from the rental market this month.
Light Commercial Vehicles were up 9.4% to 12,290 units compared to February last year.
“Although year-on-year growth during February looked inspiring, passenger car sales were actually marginally (463 units) down on January sales,” says Gaoaketse. “Light Commercial Vehicle sales during February, however, were 2,666 units or 27.7% ahead of January, likely as a result of erratic supply continuing to hamper the market.”
The market has further headwinds to face as fuel prices will exceed R21 per litre inland during March and are destined to rise further amidst tensions in Ukraine. Industry could also face additional complications over and above microchips as supply and manufacture is potentially disrupted in the region and Russia.
“The situation could amplify the divide between consumer and business demand and the market’s already hampered ability to supply,”says Gaoaketse.
“This increasing amount of pent-up demand may only be balanced by affordability considerations thanks to increased running costs, and household incomes, which remain under pressure.”
It’s a far better situation to be in than weak economic activity and the market is rejoicing thanks to increased activity in sales with the consequent ripple effect throughout the value chain.
The new vehicle market is already 18.8% up to 85,559 units during the first two months of the year compared to the year-to-date performance of 2021, outrunning many forecasts already made for the market this year.
“This bodes well for the continued recovery of the new vehicle market,”concludes Gaoaketse.
With the fuel price in South Africa hovering at an all-time high, most drivers are open to any suggestions on how to get a little bit more from their tank. While it seems motorists might get some relief from these record-high prices in June 2021, it is always worthwhile driving as fuel efficiently as possible.
Here are five tips to make your tank go quite a bit further.
1. Plan your travelling
One of the best ways to save fuel is to drive less. This can be done by proper planning, for example instead of going to the mall every day, rather allocate a bit more time and go once a week. If you need to travel a fair distance for appointments, try to group them with other stops that you need to make in the same area. Where possible avoid rush hour, as travelling during peak hour means a long journey in terms of time and your car will use more fuel. Leaving timeously will also mean you are less rushed and driving in a relaxed manner is a sure way of saving fuel.
2. Change your driving style
The way you drive is the biggest contributor to the amount of fuel it uses. Avoid speeding between intersections and excessively revving your vehicle. A smooth, gradual, acceleration technique is the most economical way to drive, as is maintaining a constant speed on the highway and sticking to the speed limit.
3. Limit your use of the air conditioning
Your car’s air conditioner can contribute as much as 5% to your fuel bill, especially when stationary. It is a good idea to turn it off when you are standing still and switch it back on once you are up to speed.
4. Check your tyre pressures regularly
Underinflated tyres are a huge contributor to unnecessary fuel consumption. Tyres should be checked regularly and inflated according to the manufacturer’s specifications for the amount of load you are carrying. The correct pressures are normally found in the doorframe or fuel flap of your vehicle or in the owner’s manual.
5. Lose that extra weight
Extra weight in your vehicle will also push up its fuel consumption, therefore you should avoid any unnecessary weight by removing non-essential items. The same goes for unnecessary accessories like roof racks and bicycle carriers that not only add weight but also disrupt the aerodynamic properties of your vehicle.
While these tips will go a long way in saving you a few Rands, having the right vehicle for the job is the easiest way to save money. If you happen to be car-shopping, investing in a smaller, more fuel-efficient vehicle is the easiest way to save money.
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