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Toyota posts a record market share in the opening month of 2022

  • Record Market Share of 30.2% for TSAM
  • TSAM was Passenger Segment Leader with 7 946
  • TSAM was Light Commercial Vehicle (LCV) Leader with 4 366

Toyota South Africa Motors (TSAM) kicked off the year with a total of 12 480 sales in the first month of 2022. This is in the backdrop of a recovering economy and loosening COVID-19 restrictions. The TSAM aggregate accounts for a remarkable market share of 30.2% out of the 41 382 total units sold in South Africa in January. In other words, for every 10 vehicles sold last month, three of them were either Toyota, Lexus or Hino branded models.

Toyota is, once again, grateful to its loyal customers that the brand has topped the sales charts in both Passenger (7 946) and Light Commercial Vehicle (4 366) segments. 

Retailing 2 803 units, Hilux took overall honours in January as SA and Toyota’s bestselling vehicle, while the Hiace Ses’fikile continued its sales prowess as the country’s favourite people mover with 1 076 units sold. The aforementioned models have cemented TSAM’s position as the most popular manufacturer in the LCV segment.

In the passenger category, Urban Cruiser secured the title of most popular SUV with total sales of 1 454. Other notable performances in the segment included the Starlet (1 472), Corolla Cross (1 356), Agya (888), Corolla Quest (741) and Fortuner (707).

On the luxury front, the Land Cruiser 300 and Prado posted 249 and 164 units apiece, while the more niche Lexus variants garnered a total of 53 sales. Toyota’s truck division Hino sold a total of 134. The Hino 500-Series registered sales of 57 trucks while the 300- Series sold a total of 46 units.

Senior Vice President of Sales and Marketing at TSAM, Leon Theron, says the company’s marketing strategy is not just limited to new vehicle sales leadership. He therefore commended TSAM’s parts’ distribution division for shipping no less than 1.4 million vehicle parts locally while over 357 000 pieces were shipped outside of our borders in January.

Commenting on Toyota vehicle sales, Theron says: “It’s no rocket science that our strong showing in the passenger segment has been bolstered by the new Corolla Cross, Urban Cruiser and Starlet and we’re grateful that our consumers are loving these models.

“While we managed to match pre-COVID-19 figures in the first month of the year at TSAM, we remain cautiously optimistic about the 2022 economic outlook. Unemployment is still rife and fuel hikes as well as further spikes in interest rates are likely thwart consumer sentiment. However, we continue to pin our hopes on the resilience of our nation.” 

According to the National Association of Automobile Manufacturers of South Africa (naamsa): “In line with the moderate economic growth forecast for the country for 2022, the new vehicle market is expected to continue its gradual recovery to pre-COVID-19 levels, but at a slower pace.

The South African Reserve Bank increased its benchmark repo rate by 25 basis points to 4% at its January 2022 meeting, as widely expected, due to increased inflation risks. This was the second increase since November 2021 as the Committee believes a gradual rise in the repo rate will be sufficient to keep inflation expectations well anchored.”

Theron adds that retail conditions in South Africa are still far from ideal, but he is encouraged by the work ethic of Toyota dealers and the great courage they have shown in the last two years. “We believe in the strength of our dealer network, the loyalty of our customers, the commitment of the entire TSAM workforce as well as the quality of products,” he concludes.