There are about 12 million registered motor vehicles in South Africa.
But when excluding light and heavy delivery trucks, taxis and motorcycles, fewer than one in five adults has a personal vehicle.
There are roughly 8 million motor cars and station wagons as measured by eNaTIS, but not all are owned by private individuals.
According to National Association of Automobile Manufacturers of South Africa (Naamsa), new passenger vehicle sales have been declining with 2023 showing 347 695 units sold, a decrease of 4.4% compared to 2022 which had 363 692.
A difference of nearly 16 000 cars.
The trend has continued into 2024, with year-to-date new sales by April down by 5.1% year on year.
Eighty20, a consumer insights and data science firm, provides interesting insights into the decline in…