SA new-vehicle sales hit ‘tipping-point’ in August
Rising interest rates, fuel prices, vehicle costs, and a significant decrease in household spending ability weighed on new vehicle sales
01 September 2023 - 19:03
After months of outperforming expectations, new-vehicle sales hit a “tipping-point” in August as the full weight of economic reality hit consumers, Brandon Cohen, chair of the National Automobile Dealers’ Association, said on Friday.
He was speaking after motor industry association Naamsa released figures showing that the overall market fell by 2.1% last month from its August 2022 level. Car sales fared particularly badly, sliding 6.7%. ..
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