Key Market Indicators
South African car registration is projected to hit approximately 276,000 units by 2028, up from around 270,000 units in 2023. This marks an average annual growth rate of 0.4%. However, since 2010, the demand for car registrations in South Africa has experienced a yearly decline of 5.9%. In 2023, South Africa held the 43rd position globally in car registrations, with the United Arab Emirates surpassing it with the same number of units. Indonesia, Austria, and Belgium occupied the second, third, and fourth spots, respectively. On the production front, South African car manufacturing is expected to reach about 388,000 units by 2028, an increase from nearly 360,000 units in 2023. This represents a compound annual growth rate (CAGR) of 1.2%. Since 2002, the country's car production has grown by 2.3% annually. In 2023, South Africa ranked 26th in global car production, with Canada leading with the same number of units. Japan, Germany, and India followed in second, third, and fourth places, respectively.
