NEWS
Vehicle sales take another dip
SA car sales drop 5.6% year on year but bakkies and minibuses buck the trend
New-vehicle sales in SA declined for the third consecutive month, with the 47,718 units representing a 3.1% decrease compared to March 2018. The National Association of Automobile Manufacturers of SA (Naamsa) said the weakening rand and overall shadow of possible ratings-agency downgrades didn’t help March sales as consumer and business confidence continued to come under pressure. “Household budgets also continue to take strain as a result, directly impacting demand for new vehicles as motorists continue to hold on to their vehicles for longer,” said WesBank executive head of motor Ghana Msibi. This week’s fuel price hike of R1.28 a litre for petrol and 77c a litre for diesel is expected to contribute to this burden, as will the continued impact and threat of load-shedding. “At least interest rates remained unchanged, providing some small form of relief for consumers,” said Msibi. Of the 47,718 vehicles sold in March, 41,235 units or 86.4% represented dealer sales, 6.6% were to vehi...
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.