Key Market Indicators
South African Vehicle Registration is projected to decline slightly, reaching approximately 528,000 units by 2028, down from around 534,000 units in 2023. This represents a modest annual decrease of 0.2%. Over the past decade, the South African market has seen an average yearly decline of 0.7%. In 2023, South Africa ranked 38th globally in vehicle registrations, with Saudi Arabia leading at about 534,000 units. Canada, China, and Austria held the second, third, and fourth spots, respectively. In contrast, South African Vehicle Production is expected to see growth, reaching about 737,000 units by 2028 from nearly 663,000 units in 2023. This marks an average annual increase of 1.7%. Since 2002, the country's vehicle supply has consistently grown at this rate. South Africa was the 21st largest vehicle producer in 2023, with Italy just ahead at approximately 663,000 units. The United States, Japan, and Germany occupied the second, third, and fourth positions in the global production ranking.
