South Africa’s Vehicle Sales Surge in February, But Exports Drop Amid Global Challenges

South Africa’s new vehicle sales have shown strong growth in February 2026, as local demand rose by an impressive 11.4% compared to the same month last year. This is according to Naamsa, a motor industry lobbying group.

It said that the total number of units sold in February 2026 reached 53 455, marking the best February performance since 2013. According to Naamsa, the increase reflects improving economic conditions, supported by factors such as easing inflation and a more stable interest rate environment.

On a year-to-year basis most categories of vehicles showed good growth.

The number of new passenger vehicles sold in February 2026 was 37 576, an increase of 11.3% compared to the same month last year.  In February this year 13 218 light commercial vehicles (bakkies and minibuses) were sold, up 11.9%. The number of medium commercial vehicles sold in February 2026 was 720, exactly the same as in February 2025, according to Naamsa. The number of heavy trucks sold in February 2026 was 1 941, up 13.6% from February 2025.

Despite the strong growth in the domestic market, the export market has experienced significant setbacks. Naamsa reports that exports of South African-built vehicles dropped by 28.1%, falling from 33 684 units in February 2025 to just 24 221 units in February 2026. Naamsa attributed the decline to a range of global challenges, including rising protectionism, stringent decarbonisation requirements in key markets, and geopolitical tensions that have caused a slowdown in demand from international buyers.

In a statement Naamsa said, “The environment remains supportive. Headline consumer price inflation eased to 3.5% year-on-year in January, with core inflation contained at 3.4%, signalling that underlying price pressures remain manageable. Producer price inflation for final manufactured goods slowed to 2.2% year-on-year, suggesting easing factory-gate cost pressures despite persistent structural input costs in electricity and intermediate goods. These dynamics have moderated vehicle price inflation and support real household purchasing power. The 2026 Budget reinforced fiscal credibility through a cautious but consistent consolidation path, with gross debt projected to stabilise over the medium term. Market expectations of further interest rate reductions during 2026 continue to underpin affordability in interest-rate-sensitive sectors such as automotive retail.”

However, Naamsa warned that the environment could become more hostile, with rising oil prices and rand depreciation, primarily as a result of the current volatile geopolitical situation in the Middle East.