Key Market Indicators
South Africa's commercial vehicle registration is projected to decline, with the number of units expected to drop from approximately 156,400 in 2023 to around 143,950 by 2028. This represents an average annual decrease of 1.3%. The market has seen a consistent downturn, averaging a 3.5% decline each year since 2010. In the global ranking for 2023, South Africa held the 24th position, with Greece slightly ahead, registering the same number of units. Leading the rankings were Canada, Mexico, and Argentina, occupying the second, third, and fourth spots, respectively. On the production front, South Africa's commercial vehicle output is anticipated to rise from roughly 222,780 units in 2023 to about 257,640 units by 2028. This marks an average annual growth rate of 2.3%. Despite this positive trend, the country has experienced an annual supply decrease of 3.1% since 2002. In 2023, South Africa ranked 14th globally in production, with South Korea surpassing it at the same production level. Mexico, China, and Canada led the rankings, securing the second, third, and fourth positions, respectively.
