THE PHOENIX
C A U T I O U S
OPTIMISM
During the first few weeks of 2025 , I attended quite a few industry events , and the general feeling amongst the pundits and automotive industry executives was one of cautious optimism . To encapsulate this , I share with our readers a press release received on 21 January 2025 :
“ SAs automotive sector gears up for growth as 2025 sparks optimism Interest rates have been reduced , petrol prices saw multiple declines in 2024 , and South Africa has achieved more than 300 consecutive days without loadshedding . These factors are contributing to a sense of optimism as 2025 begins . According to the Ipsos 2025 Predictions Survey , 84 % of South Africans believe this year will be better than the last . Early indicators suggest 2025 is shaping up to be a turning point for South Africa ’ s economy and automotive industry . Economists speaking to Bloomberg forecast a growth rate of 1.7 % for 2025 , a notable improvement compared to the country ’ s average growth of under 1 % over the past decade . This optimism is reflected in the automotive market , where consumer confidence is gaining momentum .
In the first two weeks of 2025 , used car enquiries have risen by 12 % year-on-year , according to automotive marketplace AutoTrader , indicating growing consumer interest in vehicle purchases . The company ’ s recently launched “ Do It Big ” campaign , which encourages buyers to explore new and used vehicle options , has garnered more than 5.3 million views on YouTube since it launched in early January . Volkswagen was the most searched brand during the same period , with a 13 % year-on-year ( YOY ) increase in searches . Toyota followed closely , with a 14 % increase , while Ford , ranked fifth , recorded 15 % growth . In terms of vehicle enquiries , Toyota led with a 23 % increase YOY , followed by Ford at 18 %. On a model level , the Ford Ranger saw a notable 29 % increase in enquiries , while the BMW 3 Series recorded an impressive 35 % growth — a significant achievement for a premium model .
One of the strongest months for used vehicles was reported in October 2024 , with 34,968 used vehicles sold , while naamsa | The Automotive Business Council recorded an 8.2 % increase in December sales to 29,775 vehicles . Full-year 2024 new car sales reached 351,302 , a 1.1 % improvement on 2023 . Automakers are equally upbeat . Chinese brand Chery reported combined 2024 sales of 19,971 vehicles in South Africa , driven by demand for affordable , value-packed models . November saw the brand ’ s best-ever monthly performance , with 2,006 units sold . With a stronger economic forecast , rising consumer confidence , and improving sales data , the automotive sector is well-positioned for a strong year ahead .”
Now for a reality check , with a few acronyms and surnames to give us pause . GNU , WTO , ICC , ICJ , AI , Trump , Putin , etc . etc . etc . Let us hold thumbs , and please do not release the seat belt just yet . www . abrbuzz . co . za 01 JANUARY • FEBRUARY • MARCH 2025