By: Natasha Archary

Mikel Mabasa, CEO of The National Association of Automobile Manufacturers of South Africa joins Gugulethu Mfuphi on Kaya Biz, answering the question, “Can South Africans afford new cars?”
With the cost of living crisis gripping the world, South African are also finding it difficult to keep their heads above water and stay financially afloat.
Mikel shares that new car sales in the country took a dip in December, and reflects a fifth consecutive month of year-on-year decline.
However, with new brands entering the market from Asia, there has been a slight uptick in new car sales where the price points are significantly cheaper.
Top 10 New vehicles sales in December 2023:
- Toyota Hilux – 2 858
- Volkswagen Polo Vivo – 2 448
- Ford Ranger – 1 936
- Toyota Corolla – 1 932
- Toyota Vitz – 1 358
- Isuzu D-Max – 1 023
- Toyota Hi-Ace – 1 014
- Toyota Starlet – 1 013
- Suzuki Swift – 967
- Renault Triber – 901
Mikel predicts that the next few months will also be tough on the new car sales market, and says there may be a lot of dealerships offering a steep marked down offer to consumers.
Listen to the conversation on Kaya Biz:
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