The latest aggregated sales data from the National Association of Automobile Manufacturers of South Africa (Naamsa) show that the decline in new vehicle sales continued in November. A total of 46 413 vehicles were sold last month, a year-on-year decline of 9.6%. Year-to-date, new vehicle sales are now down 11% compared to WesBank's forecast of a 12% decline for the year. Passenger car sales through the dealer channel, which is representative of consumer activity, fell 13.8% in November. … [Read more...] about Ray of Light amidst new vehicle sales decline
Simphiwe Nghona
Sales of new cars continues downward trend
South Africa's new vehicle sales market continued deteriorating in October 2016. The latest aggregated sales data from the National Association of Automobile Manufacturers of South Africa (Naamsa) show total industry sales of 48 745 new vehicles – a year-on-year decline of 10.1%. Year-to-date, the industry is down 11.2%, with sales of 459 486 new vehicles, compared to 517 152 new vehicles sold for the same period last year. Overall demand has slowed across all vehicle segments, with passenger … [Read more...] about Sales of new cars continues downward trend
July New Car Sales Plunge to biggest low
South Africa's new vehicle industry saw sales plummet 17% this past month, according to the latest aggregated sales figures from the National Association of Automobile Manufacturers of South Africa (Naamsa). In total, only 44 883 new vehicles were sold in July 2016, a decline of 9 222 vehicles compared to the same period last year. "This is the biggest sales decline since 2009, at the height of the global economic recession," said Simphiwe Nghona, CEO of WesBank Motor Retail. "Despite the … [Read more...] about July New Car Sales Plunge to biggest low
Used market gains momentum as new car sales decline
New vehicle sales saw a sharp decline in the first month of 2016, reflecting the current sentiment in South Africa’s economy. The latest consolidated sales data from the National Association of Automobile Manufacturers of South Africa (Naamsa) shows industry sales totaling 48 615 vehicles, a year-on-year decline of 6.9%. Sales in all vehicle segments declined. Passenger car sales totaled 34 936, a year-on-year decline of 6.1%. Light Commercial Vehicle (LCV) sales declined 8.3% during the same … [Read more...] about Used market gains momentum as new car sales decline
New Vehicle Sales Market still depressed
South African new vehicle sales continued to decline in October, according to the latest consolidated sales data from the National Association of Automobile Manufacturers of South Africa (Naamsa). Industry sales totaled 54 244 vehicles, representing an 8.6% year-on-year decline, with the biggest decreases seen in sales through the government and rental channels. Government channel sales declined a massive 25.7%, year-on-year. Similarly, sales to the rental market saw a sharp drop of 23.8% … [Read more...] about New Vehicle Sales Market still depressed
Vehicle Sales Shocker
The local motor industry saw it its highest decline for 2015, this September. According to the latest data from the National Association of Automobile Manufacturers of South Africa (Naamsa) total industry sales declined 9%, year-on-year, with 50 251 new vehicles sold last month. Passenger cars accounted for 33 035 sales, year-on-year, representing a 13.2% decline. Light Commercial Vehicle (LCV) sales remained steady, with year-on-year growth of 0.3%. This performance is attributed to stiff … [Read more...] about Vehicle Sales Shocker
The Dos and the Don’ts of Applying for a Car Loan
You're about to embark on a three- to five-year journey with your beloved car. Before you apply for the car loan at the dealership, are you absolutely confident that you know everything there is to know, 'til loan do you part? When you say 'I do' to your car loan you'll need to be ready for the commitment. The car will be in your name and the loan will be your responsibility, until the full amount owed to the bank is paid off. Luckily, we are here to help you unpack the boot full of boo-boos … [Read more...] about The Dos and the Don’ts of Applying for a Car Loan
Economic Slowdown Negatively Impacts Car Sales
The slowdown in economic growth, combined with interest rate hikes, has negatively impacted South Africa's new vehicle sales. According to the latest figures from the National Association of Automobile Manufacturers of South Africa (Naamsa), sales of new vehicles during August declined 8.2%, year-on-year. A total of 51 055 new vehicles sold in August, compared to 55 610 in the same month last year. Passenger car sales declined 7.8%, year-on-year, with sales of 34 885. Light commercial vehicle … [Read more...] about Economic Slowdown Negatively Impacts Car Sales
Vehicle Sales Flat Line
The vehicle sales industry experienced virtually no growth this past March, according to the latest data from the National Association of Automobile Manufacturers of South Africa (Naamsa). Industry sales totalled 55 449 vehicles, nine more vehicles than March 2014. Passenger cars contributed 35 548 units to this total but were down 3% year-on-year. By contrast, Light Commercial Vehicles (LCV) sales for March totalled 16 808 units, up 5.5% year-on-year. But those industry numbers were … [Read more...] about Vehicle Sales Flat Line
