TOYOTA Dominates Local Market

TOYOTA Dominates Local Market

October 3, 2014

Toyota South Africa dominated the local automotive market for September with a total of 12,363 units sold – this translates to 20.3% market share in a highly competitive market of 60,854 units. This is the best monthly sales result for Toyota since March 2008, with strong performances from Hilux (3,907 units); Etios (1,705 units); Fortuner (1,234 units) and Corolla Quest (1,273 units).

Toyota’s Truck brand, Hino, also topped Medium Commercial Vehicle sales with 229 units sold and sits in second position for overall sales in the Truck market with total sales of 371 units. On the export front, Toyota  contributed 6,458 units which translates to 20.9% share of the total export market of 30,778 units.

“The industry performed remarkably well during September with a 11.5% increase in sales compared to the same period last year; which will go a long way in achieving the target of 630,000 units forecasted for this year,” says Calvyn Hamman, Senior Vice President for Sales and Marketing at Toyota South Africa.

“The continued, sustained growth in particularly the Extra Heavy Commercial Vehicle sector is indicative of a resilient market; while a 26.5% increase in car rental volumes is indicative of higher demand from corporate, private and leisure customers.

“Strong sales in affordable passenger vehicles such as Toyota’s Etios and Corolla Quest and continued growth in used car market shows that affordability remains key for South African consumers, faced with fluctuating fuel prices, exchange rate and potential interest rate increases,” he concludes.

Toyota Financial Services (TFS) shares in the brand’s success, with 7,260 new finance applications processed during September – an increase of 9% month-on-month and 12% up on the six month moving average. “Year to date Toyota Finance applications are up by 8% year-on-year which underlines the strong support TFS offers Toyota dealers,” says Marius Burger, Chief Executive Officer at Toyota Financial Services.

 

 

Market segment

Sept 2013

Sept 2014

% change

Passenger vehicles

39,921

42,918

7.5%

Light commercial vehicles

12,170

15,179

24.7%

Medium commercial vehicles

895

904

1%

Heavy commercial vehicles

463

487

5.2%

Extra Heavy commercial vehicles

1,028

1,247

21.3%

Bus

94

119

26.6%

Vehicle exports

8,598

30,778

258%

Overall market (local)

54,571

60,854

11.5%