New vehicle sales in February had its best monthly performance since 2013, according to Naamsa.
- New vehicle sales, including passenger cars, trucks, and bakkies, reached 53 455 units in February 2026, according to manufacturing body Naamsa.
- On the other hand, export numbers dropped by over 28% compared to February 2025 amid global trade tensions.
- Naamsa said that conflict in the Middle East and the increase in fuel levies, as indicated in the 2026 Budget speech, could impact sales going forward.
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The Automotive Business Council (Naamsa) said that new vehicle sales – including medium- and heavy commercial vehicles, buses and passenger cars – have reached more than 53 000 in February this year, boosted by consumer sentiment around slowing prices and increasing credit extensions.
The sales have been the best monthly performance since February 2013, the council said in a statement this week, with 2026 also continuing its momentum in new-car sales. In January this year, just over 50 000 vehicles were sold.
Naamsa said in a statement: “February’s performance continues to reflect a broad-based improvement in underlying demand fundamentals.”
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Private-sector credit extension accelerated to 8.7% year-on-year in December, driven predominantly by robust corporate borrowing, while household credit growth improved gradually as cumulative interest rate reductions since late 2024 filtered into asset finance markets, according to Naamsa. “Vehicle asset finance activity has strengthened as cumulative interest rate cuts since late 2024 have improved affordability and support buyer sentiment.”
Of the 53 455 vehicles sold during the month, about 37 576 represented new passenger car sales. This was an 11.3% improvement from February 2025.
Sales for bakkies and mini-buses increased by 11.9% year-on-year, while sales for heavy trucks and buses increased by 13.6%.
Meanwhile, Naamsa said that exports dipped in February amid global trade tensions, dropping by just over 28% year-on-year to 24 221 units.
“The industry’s export performance remains subject to heightened protectionism across several of South Africa’s key export markets, while increasingly stringent decarbonisation requirements in destination markets continue to weigh on the competitiveness of South African vehicle exports,” said Naamsa.
The auto sector has faced a 25% tariff from the US for vehicles and automotive components since April last year, which has caused exports to plunge by 74% between 2024 and 2025.
Naamsa has called on government to protect local automakers from new carbon emission regulations being introduced in the European Union (EU) in 2035. The EU – including Germany and Belgium – is the largest export market for the industry.
The Middle East conflict
While Naamsa has said that 2026 sales forecasts remained positive overall, the council also warned that increasing fuel and Road Accident Fund levies, as well as the ongoing conflict in the Middle East, could dampen expectations for new vehicle sales going forward.
READ | Final fuel price hikes for March announced – with dark clouds looming for next month
“Brent crude has breached the $80 per barrel mark amid escalations following major military operations in the region, with risks that sustained disruption around the Strait of Hormuz – a chokepoint for roughly 20% of global oil shipments – could embed a geopolitical risk premium into prices for an extended period.”
It added: “Elevated crude prices, if maintained, would feed into international refined fuel costs and, ultimately, domestic pump prices. For South Africa, this will potentially dampen discretionary consumption – including new vehicle purchases.”
National Automobile Dealers Association (NADA) chairperson Brandon Cohen said while global logistics chains would face hardships amid the conflict; SA consumer sentiment remained strong.
“Although the next few months will look to inflation, interest rate numbers, fuel costs and even local government elections, for now, consumer sentiment is strong, people are buying vehicles in the new and used space, and they are protecting those assets with VAPS [Value-Added Products], which is also a good sign,” he said in a statement.
