By Staff Reporter

South Africa’s new vehicle market maintained its upward momentum in February 2026, delivering its strongest February performance since 2013. However, export volumes moved in the opposite direction, highlighting the uneven conditions facing the industry.

According to naamsa, total domestic sales reached 53,455 units in February, an increase of 11.4% compared to the 47,994 vehicles sold in February 2025. The growth was broad-based across key segments.

Passenger car sales rose 11.3% to 37,576 units, while light commercial vehicles, including bakkies and minibuses, increased 11.9% to 13,218 units. The heavy truck and bus segment also recorded a solid 13.6% year-on-year improvement. Dealer sales accounted for 85% of total volumes, suggesting steady retail activity, with rental, government and corporate fleets making up the balance.

Exports, however, declined significantly. A total of 24,221 vehicles were exported in February, down 28.1% compared to the same month last year. Heightened protectionism in key markets and stricter decarbonisation requirements continue to affect the competitiveness of South African-built vehicles abroad.

Locally, easing inflation, improved credit conditions and cumulative interest rate cuts since late 2024 have supported affordability and buyer confidence. That said, fuel levy increases announced in the 2026 Budget, along with elevated global oil prices and a softer rand, could raise transport costs and influence purchasing decisions later in the year.

For now, domestic demand remains resilient, even as global pressures continue to weigh on export performance.