According to aggregate sales data from the National Automobile Association of South Africa, new vehicle sales were up 1.7% year-on-year with 51 866 units sold in October. Looking at year-to-date sales, the industry remains on par with the corresponding time frame in 2017 with total sales only marginally lower by 0.5%. In the dealer channel, which accounted for 67.3% of all new vehicles sold in October, total unit sales were up by 0.1% year-on-year and 1.7% year-to-date. The rental channel, … [Read more...] about New Vehicle Sales Remain Flat
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Grahamstown in the news: Court judgment reignites 14-year battle between gov spokesperson, Wesbank
Court judgment reignites 14-year battle between gov spokesperson, Wesbank: Although an affidavit signed by Grahamstown high court registrar Janet Wilson said everything after a break in Ndara’s evidence was missing, the only portion of the record missing was Ndara’s ... Source: "Grahamstown" - BingNews. 2 Bedroom Apartment / Flat to Rent in Grahamstown Central: JS - Three on Luke - Luke Street - Available immediately. 2 Bedroom 2 bathroom unit available to rent. This unit is on the first … [Read more...] about Grahamstown in the news: Court judgment reignites 14-year battle between gov spokesperson, Wesbank
Average Motoring Costs on the Up and Up
The average costs of motoring have increased by approximately R940, or 14% in the last year, and 31% since 2013 according to the latest data from WesBank. Despite prevailing interest rates remaining at low levels and favourable vehicle price inflation, the rising cost of petrol and an increase in VAT from 14% to 15% have resulted in higher overall costs when looking at the total monthly cost of motoring. Vehicle instalments and fuel spend remain the biggest components, accounting for 80% of … [Read more...] about Average Motoring Costs on the Up and Up
Year-on-Year New Vehicles Sales Up
South Africa’s total new vehicle sales were up by 2.6% year-on-year in July, with 47 881 units sold versus 46 671 in the corresponding month last year. According to data released today by the National Association of Automobile Manufacturers of South Africa (Naamsa), the passenger vehicle segment, which contributed 67% of all new vehicle sales in July, was up 4.3% year-on-year with 32 108 units sold. Light commercial vehicles, which made up 28% of the total market last month are down 2.0% … [Read more...] about Year-on-Year New Vehicles Sales Up
Save now so you can retire comfortably
Saving should be an ongoing goal for you and your family. Having a savings mindset will help you live comfortably in your golden retirement years. Preenay Sathu, Wealth and Investments Product Specialist at FNB says that, “We often leave saving for the latter parts of our life and underestimate the consequences that this has on our retirement. With the current rate of inflation and economic changes, consumers should start saving early rather than later. Retirement savings should be factored … [Read more...] about Save now so you can retire comfortably
Vehicle Sales Tracking 2018 Predictions
At the start of the year WesBank released its new vehicle sales prediction of 0.75% growth for the total industry. When comparing its projection with data released by the National Association of Automobile Manufacturers of South Africa (Naamsa) for the first half of the year, WesBank is comfortable with new vehicle sales performance tracking only 5% behind its forecast. “Historical trends have shown that sales in the second half of a calendar year are generally higher than the first,” said … [Read more...] about Vehicle Sales Tracking 2018 Predictions
Recovery… NOT Growth
According to data released by the National Association of Automobile Manufacturers of South Africa (Naamsa), new vehicle sales are up by 2.4% year-on-year across all vehicle categories. “Coming off the poor performance of the industry in 2017, the year-on-year recovery is encouraging,” said Ghana Msibi, WesBank’s Executive Head for Sales and Marketing. “It’s important to not misinterpret the recovery as growth.” A more holistic view of how the industry is performing comes from … [Read more...] about Recovery… NOT Growth
Slight Uptick in Year on Year Vehicle Sales
Despite fewer selling days in March due to public holidays, the new vehicle industry made an upward swing, with a total of 49 233 new vehicles sold reflecting a growth of 1.1% year on year. Aggregated sales data from the National Association of Automobile Manufacturers of South Africa (Naamsa) show passenger car sales through the dealer channel contributing to the bulk of growth with an 8.8% increase when compared to the same month last year. “Following the budget speech indicating an … [Read more...] about Slight Uptick in Year on Year Vehicle Sales
Consumers cautioned ahead of VAT and Fuel Levy increases
20 MARCH, 2018: Despite the recent positive sentiments about South Africa’s economy, the challenges facing it remain and the state’s overall fiscus set the tone for a trying budget in 2018. Ahead of the implementation from April 1 of a number of budgetary pronouncements, consumers are reminded to remain cautious of the tariff hikes. Against the backdrop of an uncertain political landscape, a number of factors will continue to pressure consumers who are – and have ambitions to be – active in … [Read more...] about Consumers cautioned ahead of VAT and Fuel Levy increases
Reign in Festive Season Spending and Preserve Your Clean Credit Record
November and December bring with them the year’s highest spending trends across the world, as consumers ramp up for the Festive Season. In recent years, South African retailers have also taken advantage of international trends, offering incredible and seemingly irresistible savings through “Black Friday” and “Cyber Monday”. Further into the Festive Season, many individuals and families may also embark on annual holidays away from home – a practice that can attract high, and sometimes … [Read more...] about Reign in Festive Season Spending and Preserve Your Clean Credit Record
5 Motoring Obligations to Benefit Your Budget
For many motorists, the vehicle ownership experience can be summed up with two obligations: always make your monthly instalments and keep fuel in the tank. Both of those are true. Keeping up with repayments ensures a spotless credit record, and a fuel budget will keep the wheels turning. However, there are also other obligations that come as part and parcel of owning and running a car. Each one of them also has an impact on the car owner’s budget. “A trouble-free and financially-savvy car … [Read more...] about 5 Motoring Obligations to Benefit Your Budget
New Vehicle Sales Continue to Show Growth
South Africa’s new vehicle market grew by an aggregate of 4.6% in October, year-on-year, according to the latest sales data from the National Association of Automobile Manufacturers of South Africa (Naamsa). While this growth appears significant, and in contradiction to the general economic sentiment, it is important to note that the dealer channel, which is much more representative of the actual performance of the market, is marginally down by 0.8%. By contrast, the car rental market showed … [Read more...] about New Vehicle Sales Continue to Show Growth
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
New vehicle sales negatively affected by SA’s Junk Status
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 up in March
South Africa’s new vehicle industry grew 2.1% in March, with total sales of 48 534 vehicles according to the latest data from the National Association of Automobile Manufacturers of South Africa. This follows a minor decline of 0.1% in February and growth of 3.7% in January. Year-to-date, new vehicle sales are up 1.9%. In an about-turn for the industry, this growth was driven by sales through the dealer channel – where consumers are active. Conversely, government and rental channel sales saw … [Read more...] about New Vehicle Sales up in March
