South African new vehicle sales reached 133 324 up until the end of March 2019. The first quarter (Q1) of 2019 has seen a slight dip in new vehicle sales as compared to 2018. Problems with load-shedding and uncertainty with the upcoming national elections are possible factors for the slow start to the year.
So, which manufacturers are leading the pack after Q1 2019? The first thing that is immediately clear from national statistics is that bakkies are big business. Toyota, once again, is leading sales. With a total of 33 461 sales in the first three months of 2019, Toyota have outperformed their nearest competitor, Volkswagen, by quite a way.
VW recorded 21 601 car sales during Q1 2019, earning them second place. While the VW Polo Vivo remains one of the top-selling cars in South Africa, the Toyota Hilux continues its dominant run in the early stages of 2019. The next most-popular bakkie and the third best-selling vehicle overall is the Ford Ranger.
Ford, Nissan and Hyundai also achieved notable sales volumes since the start of the year. Ford topped 14 377 sales in total, while Nissan managed 13 586 sales across South Africa. Hyundai placed fifth with 8491 vehicles sold in Q1.
The national general elections take place in Q2 of 2019, after which vehicle manufacturers and sellers expect to see an upturn in sales volumes. Although the sales statistics for Q1 show a slow start, the new vehicle market is likely to complete 2019 on a high note.
Formex Industries is a metal forming and assembly company that supplies a variety of complex products to the local automotive industry and export market. The company is based in the Nelson Mandela Bay metropole, South Africa’s foremost region for automotive manufacturing and export.
Formex specialises in producing components for the catalytic converter industry, as well as metal components and assemblies for the various vehicles. Formex aims to become one of the foremost suppliers for the South African automotive industry by 2035, aligning itself with the South African Automotive Masterplan (SAAM) which takes effect in 2020.
Formex is a Level 2 B-BBEE supplier with over 80% black ownership, of which more than 40% are black women. The company is owned by Deneb Investments Limited – a subsidiary of Hosken Consolidated Investments Limited (HCI) – one of South Africa’s biggest true B-BBEE companies listed on the Johannesburg Stock Exchange (JSE).