By Otsile Kadiege

Positive momentum continued to build for the new vehicle market during November, with sales for the month replacing October as the best sales month of the year. The strong performance was driven by fleet deals from the rental companies as consumer demand softened year-on-year.

New vehicle sales reported its second consecutive month of substantial year-on-year growth, recording 48,585 sales, up 8,1% on November 2023 sales according to naamsa | the Automotive Business Council. Not only was November the year’s best sales month, but also the largest market growth of the year. October sales had been 5,5% up year-on-year.

November sales were driven by a substantial uptick in rental volumes, driving passenger car sales up 20% to 35,101 units and accounting for all of the market’s growth during the month. By contrast, Light Commercial Vehicle sales were once again significantly lower, down 16,3% to 10,827 displaying the ongoing volatility of the market and remaining signs of caution despite the headline results.

The impact of October and November sales can certainly be felt in the market’s year-to-date performance. With 474,469 units sold over the 11 months, the market has recovered to being 3,5% lower than the same period last year.