CRA Personal Finance & Motoring Explored
Today we explore South Africa’s best-selling SUVs and crossovers including 5 priced under R300 000 that will not break the bank.
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Data from the National Association of Automobile Manufacturers of South Africa (Naamsa) shows that the new vehicle market declined during December 2021, capping a year of challenges that included additional Covid-19 waves and variants, and several domestic socio-economic issues.
Aggregate new car sales of 35 948 units declined 3.5% or 1,302 units against the data from a year ago, December 2020. However, New passenger car sales of 24,949 units was up marginally, by 1.7% or 408 units compared to December 2020.
The top five manufacturers for the month were as follows:
- Toyota – 9,580 units
- Volkswagen – 5,131 units
- Hyundai – 2,892 units
- Nissan – 2,417 units
- Ford – 2,181 units
SUVs and crossover vehicles continue to be a popular choice for motorists in South Africa, accounting for 13 of the top 30 vehicle brands sold in December 2021. A number of crossovers were introduced into the local market in 2021, gaining almost immediate traction due to their favourable price point and fuel economy.
Looking ahead to the market and prospects in 2022, Naamsa said that while the new vehicle market has seen substantial growth since the initial shock of the Covid outbreak, it has not been sufficient to return to pre–Covid–19 levels in 2021. A sustained higher domestic economic growth rate is essential to support higher domestic new vehicle sales volumes, it said.
However, with a GDP growth rate forecast of a moderate 1,8% in 2022, the new vehicle market is expected to continue its gradual recovery during the year, but at a slower pace and at this stage a year–on–year improvement of around 8% in aggregate new
vehicle sales volumes is projected for 2022.
Factoring in the expected year–on–year improvement in vehicle exports of around 15%, an improvement in industry vehicle production of about 17% is projected for 2022.
“The automotive industry is not only the largest manufacturing sector in the South African economy, but it also invests billions of Rand every year, and represents about 460 000 highly skilled, direct jobs in its formal sector supply chain. With constant economic shifts and global disruptions the order of the day, companies must capitalise on smart business models that will fuel their growth matrix.”
Load–shedding will remain an area of great concern in 2022, limiting the economy’s ability to reach full capacity, said Naamsa. Furthermore, the realities of rising interest rates and fuel prices are expected to impact vehicle affordability as household budgets remain under pressure, dimming the hopes of a further strong recovery in the economy any time soon, it added.
Below are the top-selling SUV’s and crossover vehicles in the country right now:
Toyota Corolla Cross — 1,752 units
- Corolla Cross 1.8 Xi
- Price: R349,900
VW T-Cross — 766 units
- T-Cross 1.0TSI 70kW Comfortline
- Price: R365,100
Ford EcoSport — 765 units
- EcoSport 1.5 Ambiente
- Price: R304,500
Toyota Fortuner — 689 units
- Fortuner 2.4GD-6
- Price: R605,000
Nissan Magnite — 679 units
- Magnite 1.0 Turbo Acenta
- Price: R269,800
Renault Triber — 546 units
- Triber 1.0 Expression
- Price: R193,400
Toyota Urban Cruiser — 488 units
- Urban Cruiser 1.5 Xi
- Price: R264,300
Hyundai Venue — 482 units
- Venue 1.2 Motion
- Price: R262,500
Hyundai Creta — 462
- Creta 1.5 Premium
- Price: R389,500
Kia Seltos — 398
- Seltos 1.6 EX
- Price: R408,995
Haval Jolion — 390
- Jolion 1.5T City
- Price: R309,900
Kia Sonet — 360
- Sonet 1.5 LX
- Price: R285,995
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Article Credit to BusinessTech.
If you were in the market for a new vehicle, would you buy a SUV or crossover vehicle? What are your criteria for a SUV or crossover vehicle? Let us know in the comments below. Also, if you found our content informative, do like it and share it with your friends.
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