Brakes on vehicle sales
Total new vehicle sales grew at a modest pace last month compared with the same period a year ago, the National Association of Automobile Manufacturers of SA said.
It said yesterday that new car sales rose 1.4% in September to 55097, from 54357 a year earlier.
It attributed the slower growth to, in part, the higher base effect established last year when more units were sold in September.
The tragic events at Marikana and the current high level of strikes had dented business confidence in South Africa, it said, adding that consumers similarly would have been affected and concern about the macro socioeconomic environment was likely to have resulted in a deferral of purchasing decisions.
Total domestic sales in the nine months to date remained 10% ahead of the corresponding period last year, the data showed.
The association said historically low interest rates, vehicle affordability and higher demand for credit by households and businesses will boost sales.
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