Brian Joss –
“Market showed great resilience”
Toyota again led local vehicle sales, racking up 10,147 sales of the overall 52,368 units sold to domestic customers during February. This translates to 19,3% market share. The company 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 vice president of sales and marketing: “February is traditionally a tough sales month, with reduced trading days and financial year-end among various corporate companies – however, the market showed great resilience with a slight increase of 1.1% compared to the same period last year.”
Toyota’s industry forecast for 2015 remains at a modest 630 000 units, with Mr Hamman saying that recent tax increases announced during the 2015 budget speech may impact on the industry. “The increase in the tax burden as a result of higher income tax rates coupled with the increase in the general fuel levy would impact consumer spending and sentiment,” he said.
Toyota’s top performers include the ever-green Hilux, again outselling competitors in 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 particularly the SUV and passenger segments bodes positive for the remainder of the year. Having said that, however, economic pressure remains and consumers remain cautious to incur new debt, The continued uncertainty regarding Eskom, drought in large parts of the country and increased personal tax also contributes to these sentiments,” said Mr Hamman.