NEW YORK, Jan. 27, 2016 /PRNewswire/ -- Executive Analysis of the South African Passenger Vehicle Market : D-midsize and C-compact will be the Fastest Growing Vehicle Segments with Nearly One-third of the Market Share by 2020
As a result of South Africa's sluggish economy and its low GDP in 2014, which was highly sensitive to consumer demand, sales in the passenger vehicles segment fell during the first half of 2014. However, the popularity of diesel engine models has increased and the market share for new diesel light vehicles has grown noticeably. This market report provides a brief outlook of the South African Automotive Industry and analyses the different car segments to determine which will be fastest growing segment. It also highlights leading vehicle brands and discusses production by key original equipment manufacturers.
Key Research Findings
South Africa's Passenger Vehicle (PV) sector has been under enormous pressure in the last five years, but is expected to increase with the recovery of the country's Gross Domestic Product (GDP) growth in 2015.
-As a result of South Africa's sluggish economy and its low GDP in 2014, which was highly sensitive to consumer demand, sales in the passenger vehicles segment fell by % to units during the first half of 2014.
-The new passenger vehicles sector also experienced its steepest decline in November 2014 for the year 2013-2014 as sales dropped % year-on-year to units.
-South Africa has a parc number of approximately million vehicles, of which % are passenger vehicles.
-In South Africa, the popularity of diesel light vehicles has increased in the last three years.
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