New-vehicle sales down 4.1%, exports plunge by 38.1%
New-vehicle sales in South Africa in September dropped by 4.1%, to 44 081 units, compared with the same month last year.
naamsa | The Automotive Business Council reports that the new-passenger-car market reached 30 218 units – a 2% increase compared with September last year.
Sales to the car-rental industry accounted for 28% of new-passenger-vehicle sales during the month.
Sales of new bakkies, vans, small trucks and minibus taxis – light commercial vehicles – dropped by 17.1% in September, to 10 914 units.
Medium-truck sales inched up by 0.5%, reaching 821 units, while heavy-truck and bus sales shrunk by 18%, notes naamsa.
September new-vehicle export sales, at 21 964 units, plummeted by 38.1% compared with the same month last year.
Naamsa says although vehicle exports to Europe – South Africa’s biggest new-vehicle export market – have slowed owing to economic challenges in this region, stricter environmental legislation, as well as other factors, exports to the US have surged by 132% year-to-date.
New-car sales in the EU reached a three-year low in August.
Year-to-date new-vehicle sales in South Africa, at 401 169 units, are 5.8% down on the same period last year, while exports are down a substantial 19.7%, at 289 198 units.
Naamsa believes that recent positive economic trends, such as the first interest rate cut in four years by the South African Reserve Bank, a stronger rand, easing inflation and lower fuel prices may all serve to bolster consumer confidence going forward.
“Expectations are rising that the new- vehicle market could see improvement for the remainder of the year.”
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