Truck sales retain positive momentum
Stronger sales number suggests improvement in capital investment sentiment in SA, says Naamsa.
Sales in SA’s medium and heavy truck segments continued their positive performance and grew for a fourth consecutive month in October. According to figures released by the National Association of Automobile Manufacturers of SA (Naamsa) there were 782 new medium trucks and 1,866 heavy trucks sold in SA last month, respective increases of 15.3% and 12.3% compared with the corresponding month in 2017. The stronger sales number suggested an improvement in capital investment sentiment in SA, said Naamsa. The economy continued to experience difficult conditions with consumers’ disposable income remaining under pressure, noted the association, and that continued weakness in the latest purchasing managers’ indices and the Reserve Bank’s leading indicator suggested that business conditions would probably remain difficult in the short term. On the positive side it said the recent investment summit served as a platform to re-establish trust between the government and private sector, to restore...