Sales of new Chevrolet cars plunged by 38% in May from a month earlier, following the announcement that the brand will leave the market at the end of this year when General Motors (GM) disinvests from SA. Sales fell to 251 from 407 in April. It was also a disappointing month for the overall new-vehicle market as total sales in May fell 2.6% compared to May 2016, from 42,912 to 41,783. Car sales slipped 1.5%, from 26,980 to 26,317. As a result, aggregate vehicle sales for the first five months were down 1.7%, from 227,432 to 223,664. The figures were released on Thursday by the Department of Trade and Industry. Though the National Association of Automobile Manufacturers (Naamsa) said car and bakkie sales "held up better than expected", some market analysts had been hoping for the start of a market rebound. However, they still believe it will kick in before the end of the year. Truck sales last month were disappointing: medium-sized vehicles lost 13.6% and heavies 17.5%. Naamsa said t...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.