naamsa releases October 2024 new vehicle sales statistics

Reflecting on the new vehicle sales statistics naamsa | The Automotive Business Council said that the positive start to the last quarter with the highest sales month of the year, including the highest passenger car sales month since October 2019, was encouraging for the medium-term new vehicle market outlook.

Mikel Mabasa, naamsa CEO said that aggregate domestic new vehicle sales in October 2024, at 47,942 units, reflected an increase of 2,506 units, or a gain of 5,5%, from the 45,418 vehicles sold in October 2023. Export sales decreased by 17,324 units, or 42,6%, to 23,342 units in October 2024 compared to the 40,666 vehicles exported in October 2023.

The October 2024 exports sales at 23,342 units reflected a decrease of 17,324 vehicles, or a loss of 42,6%, compared to the high-based 40,666 vehicles exported in October 2023. For the first 10 months of the year, vehicle exports were now 23,1% below the corresponding period 2023.