- Toyota retain share of the market lead
- Domestic market shows resilience
|Market segment||Feb 2019||Feb 2019||% change|
|Light commercial vehicles||14,233||15,139||1.8%|
|Medium commercial vehicles||919||768||-16.4%|
|Heavy commercial vehicles||424||320||-24.5%|
|Extra Heavy commercial vehicles||1,069||1,034||-3.2%|
|Overall market (local)||51,784||52,368||1.1%|
Toyota again led local vehicle sales, racking? up 10,147 sales from the overall 52,368 units sold to domestic customers during February. This translates to 19,3% share of the market. The organization also secured 22.8% share of the export market; having exported 6,795 units to various markets during February.
Says Calvyn Hamman, Toyota South Africa’s Senior V . p . of Sales and Marketing: “February is traditionally a difficult sales month, with reduced trading days and financial year-end amongst various corporate companies – however, the marketplace showed great resilience with a slight increase of 1.1% when compared to same period last year.”
Toyota’s industry forecast for 2019 remains at a modest 630,000 units, with Hamman saying that recent tax increases announced throughout the 2019 Budget Speech may impact on the. “The rise in the tax burden as a result of higher income tax rates along with the increase in the overall fuel levy would impact consumer spending and sentiment,” he says.
Toyota’s top performers include the ever-green Hilux, again outselling competitors within the LCV market with 3,097 bakkies finding a home during the past month; while Toyota’s affordable entry-level model, Etios, remains a popular consumer choice with 1,599 units sold.
“The second consecutive monthly increase in specially the SUV and passenger segments bodes positive for the remainder of the year. With that said, however, economic pressure remains and consumers remain cautious to incur new debt, The continuing uncertaintty regarding ESKOM, draught in large parts of the country and increased personal tax also plays a role in these sentiments” concludes Hamman.