September Sales Bounce Back
Figures from the National Association of Automobile Manufacturers of South Africa (Naasma) released on Wednesday recorded total vehicle sales at 60‚854 units last month — an increase of 11.5% compared with the same period last year following the 1.3% year-on-year drop in new car sales in August to 55‚751 units.
Of the total industry sales in September‚ more than 70% represented dealer sales and about 17% represented sales to the vehicle rental industry.
Domestic sales of new light commercial vehicles‚ bakkies and minibuses increased by 24.7% during the month‚ with sales of heavy trucks and buses also performing well‚ up 16.9%.
Local vehicle exports surged to to 30‚778 units‚ a 258% increase from the same time a year ago. “Whilst the improvement in underlying domestic new vehicle sales and export sales was encouraging‚ it was advisable to retain a cautious position regarding the outlook for the automotive sector for the balance of 2014‚” Naamsa said.
“Lower economic growth‚ recent increases in interest rates‚ the possibility of a further interest rate hike before year end and above inflation new vehicle price rises — would combine to ensure that the new vehicle sales trading environment would remain difficult‚” said Naamsa.
-Business Day