Irregularity in new vehicle sales numbers continues to contribute to market uncertainty. According to aggregated data from the National Association of Automobile Manufacturers of South Africa (Naamsa), April’s sales of 36 346 units reflect a 3.6% year on year growth, while at the same time showing a dramatic month on month decline of 26.2%. “It’s important to not read too much into these figures as the overall picture is skewed by the dip in sales observed in April 2017 as a result of the … [Read more...] about New Vehicle Sales Reflect Deceptive Growth
rudolf mahoney
Positive Turnaround Continues
The positive turnaround in South Africa’s new vehicle sales continued in September, according to the latest aggregate sales data from the National Automobile Association of South Africa. A total of 50 322 new vehicles were sold across all segments, last month, representing year-on-year sales growth of 6.3%. Data indicates that consumer buying patterns were responsible for the positive performance, over the past month. The dealer channel, where consumers are active, saw overall growth of 6.3%. … [Read more...] about Positive Turnaround Continues
Local is Lekker
When it comes to buying new vehicles, South Africans have a growing preference for purchasing locally made cars, according to year-to-date sales data from WesBank and Naamsa. Sales records from January to July 2017 show that nine of the 10 top-selling cars and bakkies are models built in South Africa – accounting for 34.1% of passenger car and light commercial vehicle (LCV) sales, year-to-date. “It’s remarkable that the top ten sellers are all South African, especially with more than 350 … [Read more...] about Local is Lekker
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
After a loooong 14 months sales increase
The new vehicle sales market has hit the ground running in 2017, according to the latest aggregated new vehicle sales data from the National Association of Automobile Manufacturers of South Africa (Naamsa). January 2017 saw total sales of 50 333 new vehicles, a year-on-year increase of 3.7% - the first sales increase in 14 months, which represents marginal growth off a low base. This sales performance was the result of growth in the rental and government channels, where sales were up 32.5% … [Read more...] about After a loooong 14 months sales increase
New Vehicle Sales predicted to decline further
The Reserve Bank has hiked the interest by 25 basis points, bringing the effective repo rate to 6.25%. The prime lending rate will change to 9.75%. The rate hike will affect buyers who have vehicle finance agreements structured around a linked interest rate. Interest on these loans will be recalculated, and account holders will be notified of the increase in their monthly instalment. "Although this increase is small, with a minor effect on the monthly instalment, buyers should not downplay … [Read more...] about New Vehicle Sales predicted to decline further
Business drives October car sales
New vehicle sales have shown positive growth for the second month this year, according to data from the National Association of Automobile Manufacturers of South Africa (Naamsa). Total industry sales amounted to 59 384 new vehicles. Passenger car sales grew 1.6%, year-on-year, to 40 666, and Light Commercial Vehicle (LCV) sales grew substantially compared to November last year, totalling 15 827 units - growth of 14%. But while market performance looks strong, the indication shouldn't be … [Read more...] about Business drives October car sales
