Electric vehicle sales soar as South Africa shifts gears – here’s why
· The South African
Demand for electric and new energy vehicles (EVs and NEVs) continues to grow in South Africa, with sales rising 78.8% between January and May 2026 compared with the same period last year.
Figures released by Absa show the market gained momentum as consumers increasingly opted for alternative fuel vehicles. Plug-in hybrid electric vehicle (PHEV) sales rose by 681%, while battery electric vehicle (BEV) sales increased by 193%.
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The latest growth comes as vehicle manufacturers expand their model ranges, dealership networks and financing options to meet rising demand.
South Africa EV sales rise in 2026
Although EVs and NEVs still account for a relatively small share of South Africa’s overall vehicle market, adoption continues to accelerate.
Industry players say greater model availability and growing consumer awareness have helped drive demand. Improved access to finance has also made electric vehicles more attainable for some buyers.
According to the latest figures, BYD sold 2 011 new energy vehicles during the first five months of 2026, making it the country’s second best-selling NEV brand over the period.
EV finance supports South Africa’s growing market
Access to vehicle finance remains one of the biggest drivers of EV adoption.
BYD and Absa have now extended a partnership launched in 2025. It will continue to provide vehicle finance, dealer funding, insurance products and other banking services for customers and dealerships.
“South Africa is an important market for BYD, and the pace of development we are seeing in the local new energy vehicle sector is encouraging,” said Steve Chang, Managing Director of BYD Auto South Africa.
Absa Managing Executive for Vehicle and Asset Finance Charl Potgieter said consumer demand for electric vehicles continues to grow, although affordability and charging infrastructure remain important considerations. “The growth we have seen in our own new energy vehicle finance portfolio over recent years suggests consumer attitudes are changing. While affordability and infrastructure are still important factors, there is growing acceptance of electric mobility, and extending our cooperation with BYD allows us to continue supporting customers as the market develops.”
New energy vehicles continue to reshape the market
South Africa’s EV market remains small compared with traditional petrol and diesel vehicle sales. However, recent figures suggest demand continues to strengthen.
As manufacturers expand their local presence and financial institutions broaden vehicle finance options, consumers are gaining more access to electric and new energy vehicles than in previous years.
Whether that momentum continues will depend on several factors, including vehicle affordability, charging infrastructure and the availability of new models.