MONTHLY FIGURES
April’s revved up new-vehicle sales off an 'utterly atrocious' low base
Still, a 3.6% improvement is welcome in any circumstances – particularly when it may rise later to 4.6%
Do not get too carried away with April’s 3.6% improvement in new-vehicle sales from a year earlier, says WesBank analyst Rudolf Mahoney. After all, he says, we are comparing with an “utterly atrocious” month when the market collapsed after former president Jacob Zuma’s firing of finance minister Pravin Gordhan and other actions that caused the country’s credit rating to be reduced to junk status. Still, a 3.6% improvement is welcome in any circumstances – particularly when it may rise later to 4.6%. The Fiat and Chrysler brands, though part of the same global group for some years, officially merged into a new local firm, Fiat Chrysler Automobiles SA, on May 1. Delays caused by integration of data and systems means comprehensive sales details will not be ready until mid-May. Based on past performance, the National Association of Automobile Manufacturers of SA (Naamsa) said the new company probably sold about 350 vehicles in April. That would add almost 1% to the market. Without Fiat ...
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.