Buying-down trend sees premium car brands knocked out of top 10
Price and rate hikes and lower disposable income are driving consumers to more affordable cars
13 June 2023 - 19:33
byDenis Droppa
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Mercedes-Benz has exited the top 10 sellers in recent years.
Picture: DENIS DROPPA
Affordability is driving new light vehicle sales and the buying-down trend sees no premium brand left in SA’s top 10 sellers.
Price inflation, declining disposable income and negative sentiment are driving consumers to more affordable cars. Buying patterns are also being shaped by increasing interest rates and fuel price hikes.
Premium brands BMW and Mercedes-Benz have both exited the top 10 in recent years — BMW in 2019 and Mercedes-Benz in 2021 — while high-volume marque Suzuki is now in third position, just four years after entering the top 10, according to data and analytics provider Lightstone Auto.
“Toyota and Volkswagen have occupied first and second positions for the past five years, while affordability has been a key brand feature behind Suzuki’s remarkable rise from 10th in 2019 to third in 2022.
"The weighted average price of a Suzuki in 2022 was a little more than half that of the LV market as a whole,” says Jaco van Staden, head of sales at Lightstone Auto.
Affordability has been a key brand feature behind Suzuki’s remarkable rise from 10th in 2019 to third in 2022. Picture: SUPPLIED
Suzuki grew 71.04% year on year to achieve a market share of 8.92% in 2022, while budget-focused brand Mahindra grew its sales volumes by 78% compared with the previous year, making it SA’s fastest-growing automotive brand.
Renault registered a leap of 29.61% and grew its market share to 5.15%, leaving the French firm sixth overall in the most popular brand rankings for 2022. Chinese brands such as Haval and Chery have made impressive gains with cars that offer a lot of features at keen prices.
The top 10 light vehicle brands, in order of popularity in 2022 were: Toyota, Volkswagen, Suzuki, Hyundai, Nissan, Renault, Ford, Kia, Isuzu and Haval. The Toyota Hilux continued its reign as SA’s best-selling vehicle ahead of the Volkswagen Polo Vivo, while the Polo hatchback was overtaken by the Suzuki Swift, Toyota Urban Cruiser and Toyota Corolla Cross.
Mercedes-Benz and Isuzu have held the first and second positions in the commercial vehicle brand rankings over the past five years, and in 2022 were followed by Volvo Trucks, which had jumped from fifth in 2021 to third. Toyota broke into the top 10 in 2021 with its medium commercial bus offering, while Scania has dropped from fourth in 2018 to seventh in 2022.
The top 10 commercial vehicle brands, in order of popularity in 2022, were Mercedes-Benz, Isuzu, Volvo Trucks, FAW, Hino, UD Trucks, Scania, MAN, Fuso and Toyota.
“The top 10 light vehicle brands usually account for between 80% and 85% of the light vehicle market, while the combined market share of the top 10 brands for the commercial vehicles has been between 80% and 90%,” says Van Staden.
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VEHICLE SALES
Buying-down trend sees premium car brands knocked out of top 10
Price and rate hikes and lower disposable income are driving consumers to more affordable cars
Affordability is driving new light vehicle sales and the buying-down trend sees no premium brand left in SA’s top 10 sellers.
Price inflation, declining disposable income and negative sentiment are driving consumers to more affordable cars. Buying patterns are also being shaped by increasing interest rates and fuel price hikes.
Premium brands BMW and Mercedes-Benz have both exited the top 10 in recent years — BMW in 2019 and Mercedes-Benz in 2021 — while high-volume marque Suzuki is now in third position, just four years after entering the top 10, according to data and analytics provider Lightstone Auto.
“Toyota and Volkswagen have occupied first and second positions for the past five years, while affordability has been a key brand feature behind Suzuki’s remarkable rise from 10th in 2019 to third in 2022.
"The weighted average price of a Suzuki in 2022 was a little more than half that of the LV market as a whole,” says Jaco van Staden, head of sales at Lightstone Auto.
Suzuki grew 71.04% year on year to achieve a market share of 8.92% in 2022, while budget-focused brand Mahindra grew its sales volumes by 78% compared with the previous year, making it SA’s fastest-growing automotive brand.
Renault registered a leap of 29.61% and grew its market share to 5.15%, leaving the French firm sixth overall in the most popular brand rankings for 2022. Chinese brands such as Haval and Chery have made impressive gains with cars that offer a lot of features at keen prices.
The top 10 light vehicle brands, in order of popularity in 2022 were: Toyota, Volkswagen, Suzuki, Hyundai, Nissan, Renault, Ford, Kia, Isuzu and Haval. The Toyota Hilux continued its reign as SA’s best-selling vehicle ahead of the Volkswagen Polo Vivo, while the Polo hatchback was overtaken by the Suzuki Swift, Toyota Urban Cruiser and Toyota Corolla Cross.
Mercedes-Benz and Isuzu have held the first and second positions in the commercial vehicle brand rankings over the past five years, and in 2022 were followed by Volvo Trucks, which had jumped from fifth in 2021 to third. Toyota broke into the top 10 in 2021 with its medium commercial bus offering, while Scania has dropped from fourth in 2018 to seventh in 2022.
The top 10 commercial vehicle brands, in order of popularity in 2022, were Mercedes-Benz, Isuzu, Volvo Trucks, FAW, Hino, UD Trucks, Scania, MAN, Fuso and Toyota.
“The top 10 light vehicle brands usually account for between 80% and 85% of the light vehicle market, while the combined market share of the top 10 brands for the commercial vehicles has been between 80% and 90%,” says Van Staden.
SA’s best-selling vehicles of 2022 — top 50:
1. Toyota Hilux — 32,203
2. Volkswagen Polo Vivo — 20,866
3. Ford Ranger — 17,341
4. Suzuki Swift — 17,282
5. Isuzu D-Max — 17,062
6. Toyota Urban Cruiser — 16,992
7. Toyota Corolla Cross — 15,841
8. Volkswagen Polo — 15,697
9. Toyota Hi-Ace — 13,687
10. Toyota Starlet — 12,921
11. Nissan NP200 — 12,859
12. VW T-Cross — 10,384
13. Renault Kwid — 9,770
14. Haval Jolion — 9,068
15. Renault Kiger — 8,532
16. Mahindra Scorpio Pik Up — 8,044
17. Toyota Fortuner — 7,805
18. Suzuki Vitara Brezza — 7,425
19. Hyundai Venue — 7,212
20. Hyundai Atos — 7,141
21. Kia Picanto — 7,137
22. Ford EcoSport — 6,790
23. Renault Triber — 6,575
24. Hyundai Grand i10 — 6,316
25. Nissan Navara — 6,067
26. Nissan Magnite — 6,065
27. Toyota Agya — 5,798
28. Suzuki S-Presso — 4,953
29. Haval H6 — 4,771
30. Toyota Corolla Quest — 4,688
31. Chery Tiggo 4 Pro — 4,622
32. GWM Steed — 4,521
33. Toyota Rumion — 4,050
34. Suzuki Jimny — 3,970
35. Hyundai i20 — 3,843
36. VW Polo Sedan — 3,770
37. Toyota Land Cruiser Pick up — 3,517
38. Kia Rio — 3,510
39. Nissan Almera — 3,477
40. Kia Sonet — 3,319
41. BMW X3 — 3,224
42. Suzuki Baleno — 2,832
43. Suzuki Ertiga — 2,815
44. Suzuki DZire — 2,763
45. Mercedes-Benz C-Class — 2,718
46. VW Tiguan — 2,613
47. Kia Seltos — 2,501
48. VW T-Roc — 2,407
49. Hyundai H100 Bakkie — 2,300
50. Mazda CX-5 — 2,297
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