Price competitiveness and a growing variety of models have helped fuel new-energy vehicle (NEV) sales in the local market, says research house Lightstone in its newest newsletter.
NEVs refer to plug-in electric hybrids (PHEVs), mild hybrid electric vehicles (HEVs) and battery electric vehicles (BEVs).
In 2020, 73% of all BEV light-vehicle sales in South Africa were priced between R500 000 and R1-million, with the balance of sales between R1.5-million and R5-million.
At the time, only 14 models, contributing 92-unit sales, were reported to naamsa | The Automotive Business Council.
By 2022, the largest price-band for new BEV sales increased to between R1-million to R1.5-million (36%), with this category leading BEV sales into 2024 with a 59% share.
