South African vehicle sales continue falling — but exports rise again
Total sales for the year to date in SA are also down from a year earlier
Tough times in SA’s new-vehicle market continued in October. Sales for the month were off 10.1% from a year earlier, dragging down the overall market for the first 10 months of the year: sales for the year to date are 11.2% weaker than a year ago. Exports, on the other hand, continued their steady upward momentum. October’s numbers were almost 11% higher than a year earlier, helping to push up the year-to-date figure to a 2.2% rise. According to the National Association of Automobile Manufacturers of SA (Naamsa): “The momentum of new-vehicle exports should improve further over the balance of 2016 and into 2017, thereby contributing positively to SA’s current account of the balance of payments.” October’s 48,745 units sold were down from 54,230 a year earlier. New-car sales dropped 9.5%, from 36,176 to 32,738.
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