Vehicle sales post strong recovery in February
44,229 new cars and commercial vehicles were sold last month, according to Naamsa
Soaring fuel prices, a weakening currency and higher emissions taxes may yet dampen the enthusiasm of new-vehicle buyers, but for now motor companies are enjoying the fruits of a strong market recovery.
Figures released by the Automotive Business Council (Naamsa) show that 44,229 new cars and commercial vehicles were sold last month. 18.4% more than the 37,360 of February 2021. In the first two months of this year, sales totalled 85,559 — 18.8% more than the 72,008 units at the same stage in 2021. Cyril Zhungu, Standard Bank’s head of automotive retail finance, said the market was in the throes of “real recovery”...
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