The effects of South Africa's economy being downgraded to junk status continued to be felt in the new vehicle sales industry. New vehicle sales for May 2017, as reported by the National Association of Automobile Manufacturers of South Africa (Naamsa), saw a year-on-year decline of 2.6%. In April, year-to-date sales volumes had shrunk 1.4%. With May's decline, year-to-date sales are now down 1.7%. "WesBank forecasted marginal growth for 2017, which was made with expectation of a stable … [Read more...] about New vehicle sales negatively affected by SA’s Junk Status
new vehicle sales
SA’s Junk Status has New Vehicle Buyers Heading for the Hills
The South African new car market immediately felt the repercussions of the country's economic downgrade, in April. Total sales plummeted 13.4%, with only 34 956 new vehicles sold – the lowest sales performance since December 2009. All market segments were impact, with passenger and light commercial vehicle sales seeing respective declines of 13.7% and 13.3%. Until March, the new vehicle industry saw year-to-date growth of 1.9%, however April's negative sales performance results in a year-to-date … [Read more...] about SA’s Junk Status has New Vehicle Buyers Heading for the Hills
