Vehicle sales rose another 2.6% in July, while exports were disappointing
Vehicle sales continued to gain some ground in July with the overall market increasing by 2.6% compared to July 2017. This is according to the National Association of Automobile Manufacturers of SA (Naamsa), which also reported an increase in passenger-vehicle sales of 4.3%. Both increases are marginally less than the increases in the overall and passenger segments in June but show a market that remains resilient in spite of economic pressure. "It appeared that the new-car market had been supported by improved business and consumer confidence," says Naamsa. "However, the decline in the leading indicator of the Reserve Bank over the past two months suggests a challenging economic environment going forward." The main driver of overall sales was the retail sector, with 80.8% of all sales being through dealerships. Sales to the vehicle rental industry amounted to 14%; fleet sales were 3.1%; and the government accounted for 2.1% of the 47,881 vehicles sold in July. Increases were margina...
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