Sales of battery electric vehicles breached the 500 units per year mark in South Africa for the first time ever, with sales of 502 units in 2022.
The 2023 Automotive Export Manual publication released by the Automotive Industry Export Council [AIEC] last week showed that sales of new energy vehicles (NEVs), which include plug-in hybrids, reflected a significant year-on-year increase of 421,7%. The number sold rose from 896 units in 2021 to 4,674 units by 15 brands in 2022.
However, despite the massive increase, NEV sales still only comprised a fraction of a percent, at 0,88% of the total new vehicle market in 2022.
The trading environment in South Africa is extremely competitive compared to global standards, and in 2022 there were no less than 43 passenger car brands and 2 513 model derivatives, the greatest selection of market-size ratio found globally. Similarly, in the bakkie segment, for the same period, there were 22 brands, with 498 model derivatives to choose from. Total new vehicle revenue, based on the available list price, amounted to R255,7-billion in 2022. Out of the top 10 selling models in 2022, seven were South African manufactured models of which four bakkies and three passenger cars.