
Absa launches unique vehicle finance package for Foton Taxis
Absa Vehicle and Asset Finance and Foton South Africa celebrated their first anniversary with an innovative new taxi finance product.
- Industry News
- 30 July 2025
European new car registrations jumped 15.2% in July, the 12th consecutive month of growth as the auto industry recovers from pandemic-related supply chain issues, data from the European Automobile Manufacturers Association (ACEA) showed on Wednesday, 30 August.
In South Africa, naamsa (the automotive business council) recently announced that NEV sales increased by 47.1% to 3 146 units in the first half of this year from the 2 139 units sold in the corresponding period last year after increasing by 421.7% to 4 674 units in 2022 off a low base in 2021.
And naamsa also announced that between 100 and 120 new charging stations would be added to the existing 305 that had been installed on major road routes in the country by the end of last year.
Meanwhile, in Europe, the sales of electric vehicles jumped 60.6%, continuing a rise buoyed by subsidies in a number of European Union countries. Full EVs accounted for 13.6% of all new car sales, up from under 10% in July 2022.
Plug-in hybrids, which have both a combustion engine and a large battery, accounted for 7.9% of sales, while one in four vehicles sold in the EU was a full hybrid.
Between them, petrol and diesel engine models made up just under 50% of sales. Diesel vehicles, which alone comprised more than 50% of new car sales as recently as 2015, accounted for just over 14% of sales in July.
Europe's top car seller, Volkswagen, posted a 17.9% increase in sales in July, while BMW and Renault saw sales rise 22.5% and 16.9% respectively.
But Stellantis, which has struggled with logistics problems and car deliveries in Europe, posted a 6.1% drop in sales in July.
Absa and BYD, the world’s leading electric car manufacturer, have partnered to drive sustainable vehicle finance solutions as demand for new-energy vehicles (NEVs) surges in South Africa.
Hino South Africa has extended its Hino 300 Hybrids undergoing local field trials with selected customers.
Following the launch of the all-electric EX90 seven-seater, Volvo Car South Africa (VCSA) is reiterating its commitment to the local market with the announcement of four electric vehicles, set to arrive over the coming months.