This shift in consumer behaviour comes as the country’s new vehicle market continues to demostrate resilience despite rising fuel prices, growing inflation risks and higher borrowing costs.
South African consumers are becoming increasingly cautious and calculated when purchasing new vehicles, with affordability, fuel efficiency and long-term ownership costs now playing a bigger role in buying decisions than ever before.
This shift in consumer behaviour comes as the country’s new vehicle market continues to demostrate resilience despite rising fuel prices, growing inflation risks and higher borrowing costs.
According to the latest vehicle sales data released by the Automotive Business Council (naamsa), consumers remain active in the market, but their purchasing decisions are being driven more by value and practicality than discretionary spending.
Naamsa on Monday reported that domestic new vehicle sales reached 51,071 units in May, the strongest May performance since 2013, representing an increase of 5,784 units from April, and an increase of 12.8% compared to the 45,287 vehicles sold in the same month last year.
