Tony Twine, senior economist at Econometrix, said sales figures for last month were "too good for the prevailing economic mood under which people were pulling in their horns". He said that domestically Toyota had a "catch-up month" as a result of a glut of sales of the new- look Hilux and Fortuner. Toyota regained its market- leading spot last month, selling more than 10000 new vehicles, toppling VW.
Nevertheless, South Africa's motor industry was feeling the effect of the euro- zone crisis, Toyota SA said yesterday. Toyota spokesman Leo Kok said local manufacturers would be increasingly exposed to the euro- zone crisis, with all the attendant implications this had for the local component manufacturing sector, and employment. Volkswagen (VW) SA, which exports right-hand-drive VW Polos to the UK, is also bracing itself for declining demand. "We'd be foolish to believe there would be no impact. In 2012 we're expecting some softening of demand - we're just not sure of the extent of it," VW spokesman Matt Gennrich said.
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