Latest news with #BrandonCohen
TimesLIVE
5 days ago
- Automotive
- TimesLIVE
Ford dealers in South Africa commit nearly R1bn to facility upgrades
'Retail facilities that align with Ford's global design standards consistently outperform non-upgraded sites on key customer-facing metrics.' He added that rather than focusing on outright scale, Ford's strategy will be to right-size facilities, optimise location, improve digital readiness and upgrade aftersales infrastructure to better serve tech-savvy and time-conscious customers. Ford has 118 facilities across South Africa, Botswana, Namibia and Eswatini, ranking the brand among the top three by size in South Africa. This year 20 new Ford dealer projects and facility upgrades are starting or scheduled for completion, and the network supports more than 10,000 direct jobs in South Africa, said Hill. 'Dealers play a critical role in bringing the brand to life, ensuring Ford's values, service standards and customer promises are upheld across every touchpoint.' Ford is a volume brand with the locally built Ranger holding the position of South Africa's best-selling double cab. Dealer sales across all brands accounted for more than 85% of all new vehicle sales in South Africa during the first half of the year, with the balance split between the rental market (8.2%), corporate fleets (3.2%) and government procurement (2.7%). New-vehicle sales recorded their ninth successive year-on-year improvement in June and there have been 236,914 new vehicles sold in South Africa for the year to date — a 12.9% increase compared to the same period last year. 'Though coming off a low base in 2024, the numbers are not just a rebound, they are a show of force from South African motor dealers,' said Brandon Cohen, chair of the National Automobile Dealers' Association (Nada) after the release of June sales figures. 'When you consider the layered complexity of our operating environment — from domestic politics to global supply pressures — these figures reflect the unmatched responsiveness and customer focus of our dealer networks across the country. 'South African consumers are showing remarkable resolve and our dealer community is matching that with operational excellence and customer-centric innovation. If these trends hold, 2025 may yet prove to be a landmark year for our sector.'
IOL News
03-07-2025
- Automotive
- IOL News
Cars priced below R400,000 are driving the growth in SA's new vehicle market
Affordable vehicles such as the Chery Tiggo 4 Pro, which entered the top three this month, are driving growth in the market. Image: Supplied The good times are rolling in South Africa's new vehicle market, with nine consecutive months of sales growth putting the industry 13.6% ahead of where it was this time last year, Naamsa figures show. June was a particularly strong month for the motor trade, with year-on-year sales growing by 18.7% to 47,294 units, as both passenger cars and light commercial vehicles made solid gains of 21.7% and 14.9% respectively. But household budgets remain tight and much of the growth is currently concentrated at the lower end of the vehicle market. 'The majority of the growth we're seeing is centred in the sub-R400,000 segment,' said Brandon Cohen, chairperson of the National Automobile Dealers' Association (NADA). 'This price point remains critical for volume, affordability and trade-ins, with a direct knock-on effect on pre-owned sales performance,' He added that the used vehicle market was also benefiting from improved affordability metrics, driven by softened interest rates, favourable vehicle pricing, and the rollout of the two-pot retirement savings reform. Most telling is that 24 of the 30 best-selling new passenger vehicles in South Africa last month (see IOL's top 50 list here) have a starting price of below R400,000. In fact, four of the five top-sellers, namely the Volkswagen Polo Vivo, Chery Tiggo 4 Pro, Suzuki Swift, and Hyundai Grand i10, all have starting prices of less than R300,000. Many buyers continue to face budget constraints, said Lebo Gaoaketse, marketing head of WesBank, and at a finance level this is being seen through longer contract terms and lower credit amounts. "These are two major indicators of affordability pressure to reduce monthly installments within the need for new replacement vehicles,' Gaoaketse added. 'In short: South Africans want new cars – but they're spending less on them.' According to late-2024 data from TransUnion, the average loan amount on a new car in South Africa is currently R401,000. Yet, regardless of how much South Africans are spending, it seems evident that lower interest rates have had a positive effect on new vehicle sales. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ 'South Africa's new vehicle market growth has an uncanny alignment to the start of interest rate cuts,' Gaoaketse added. 'Interest rate reprieve since September 2024 has lifted some burden on indebted consumers and stimulated demand for credit and consequently new vehicles. The South African Reserve Bank has lowered rates 0,75% over the past nine months but may become more cautious with further cuts given global economic turmoil.' Absa's new vehicle application figures show a 13% year-on-year increase in June compared to the same period last year. 'The decreasing interest rate and the stable inflation rate have provided a welcome boost to consumers. As a result, consumers pay less on home loan and other debt instalments, increasing their ability to purchase new cars,' said Henry Botha, strategy executive at Absa Vehicle Finance. IOL Motoring
The Herald
02-07-2025
- Automotive
- The Herald
These were SA's top-selling cars and bakkies in June
South Africans continued to flock to car showrooms last month, driven by decreasing interest rates and an influx of affordably priced imported models. According to automotive body Naamsa, June's new vehicle market grew for the ninth consecutive month to 47,294 units, an increase of 18.7% compared to June 2024. Year-to-date sales for the first half of the year are 13.6% up to 278,911 vehicles. Last month the passenger car segment moved 32,570 units, a 21.7% increase over June 2024. Light commercial vehicles, bakkies and minibuses sold 12,129 units, a gain of 14.9% over the same month last year. A wave of new models and brands continued to stimulate interest in the under R400,000 price band, said Brandon Cohen, chair of the National Automobile Dealers' Association (Nada). 'Most of the growth we're seeing is centred in the sub-R400,000 segment,' Cohen said. 'The price point remains critical for volume, affordability and trade-ins, with a direct knock-on effect on pre-owned sales performance. The used vehicle market is benefiting from improved affordability metrics, driven by softened interest rates, favourable vehicle pricing and the rollout of the two-pot retirement savings reform.' The interest rate reprieve since September 2024 has lifted some burden on indebted consumers and stimulated demand for credit and consequently new vehicles, said Lebo Gaoaketse, head of marketing and communication at WesBank. 'The SA Reserve Bank has lowered rates 0.75% over the past nine months but may become more cautious with further cuts given global economic turmoil.' While lower rates have eased affordability marginally, motorists continue to face budget constraints. Despite low inflation, the average contract term continues to increase while the amount of credit reduces, he said. 'South Africans want new cars but they're spending less on them. This has been enabled to some extent by the entrance of new brands to the market at aggressive price points, but also by innovative and attractive incentives on the dealer floor.'
TimesLIVE
02-07-2025
- Automotive
- TimesLIVE
These were SA's top-selling cars and bakkies in June
South Africans continued to flock to car showrooms last month, driven by decreasing interest rates and an influx of affordably priced imported models. According to automotive body Naamsa, June's new vehicle market grew for the ninth consecutive month to 47,294 units, an increase of 18.7% compared to June 2024. Year-to-date sales for the first half of the year are 13.6% up to 278,911 vehicles. Last month the passenger car segment moved 32,570 units, a 21.7% increase over June 2024. Light commercial vehicles, bakkies and minibuses sold 12,129 units, a gain of 14.9% over the same month last year. A wave of new models and brands continued to stimulate interest in the under R400,000 price band, said Brandon Cohen, chair of the National Automobile Dealers' Association (Nada). 'Most of the growth we're seeing is centred in the sub-R400,000 segment,' Cohen said. 'The price point remains critical for volume, affordability and trade-ins, with a direct knock-on effect on pre-owned sales performance. The used vehicle market is benefiting from improved affordability metrics, driven by softened interest rates, favourable vehicle pricing and the rollout of the two-pot retirement savings reform.' The interest rate reprieve since September 2024 has lifted some burden on indebted consumers and stimulated demand for credit and consequently new vehicles, said Lebo Gaoaketse, head of marketing and communication at WesBank. 'The SA Reserve Bank has lowered rates 0.75% over the past nine months but may become more cautious with further cuts given global economic turmoil.' While lower rates have eased affordability marginally, motorists continue to face budget constraints. Despite low inflation, the average contract term continues to increase while the amount of credit reduces, he said. 'South Africans want new cars but they're spending less on them. This has been enabled to some extent by the entrance of new brands to the market at aggressive price points, but also by innovative and attractive incentives on the dealer floor.'
The Herald
03-06-2025
- Automotive
- The Herald
May figures: the best-selling cars in SA
May's new vehicle market in South Africa registered 45,308 sales against the 37,139 retailed in the same month last year. It was the eighth month in a row that sales have outperformed those of a year earlier. After five months of 2025, the market is 12.6% ahead of the same stage of 2024, up from 205,771 to 231,719 units. Brandon Cohen, chair of the National Automobile Dealers' Association (Nada), thinks the real market is stronger than it appears as 12 of the 24 Chinese brands selling vehicles here don't report their sales numbers. Lebo Gaoaketse, head of marketing and communication at WesBank, was cautiously enthusiastic about the figures. 'First quarter sales performed better by volume while displaying slower growth, indicating that the month was a solid volume performance rather than an overriding reason to celebrate,' he said. 'While volumes continue to be confidence-inspiring, household budgets remain under pressure,' said Gaoaketse.
