South Africa Vehicle Sales Rise At Slowest Pace In Over 2 Years

02 October 2012 16:00 - Which Way to Pay

Email Article Print Article

South Africa Vehicle Sales Rise At Slowest Pace In Over 2 Years

According to the Pretoria-based National Association of Automobile Manufacturers of South Africa, South African vehicle sales increased at their slowest pace in two and a half years. The results were due to mine and transportation strikes which weakened consumer and business confidence. Sales rose 1.4% from a year earlier to 5,097 and sales growth decelerated from 9.4% in the continent’s biggest economy.

The association said, “The current high level of industrial action in an increasing number of sectors in the economy dented business confidence in South Africa.” They added, “Consumers similarly would have been affected and concerns about the macro socio-economic environment in the country was likely to have resulted in a deferral of purchasing decisions.” Passenger-car sales rose 4.4% in September from a year earlier to 39,496, with rental companies accounting for 18.6% of sales. Purchases of light commercial vehicles fell 5.2%, the automobile association said. Sales of heavy trucks and buses dropped 7.7%.

Vehicle exports rose 2.7% to 25,935 in August. The association said, “Looking ahead to 2013, increasing inflationary pressures on the back of expected higher fuel and food prices and the impact of rand weakness on new vehicle pricing were likely to result in a more difficult trading environment and more subdued growth in vehicle sales,”


Related Links:
National Association of Automobile Manufacturers
• Vehicle Insurance
Compare Vehicle Insurance Here


Compare Foreign Exchange and Currency >>

Compare Loan and Debt Products >>

Compare Cards Products >>

Compare Money Products >>

Compare Insurance Products >>

Always dreaming of that brand New car , Vehicle loans can help you achieve just that .
31 August 2018
Which Way To Pay
Vehicle Loans are there to help you to be able to purchase that new car
The south African Rand has been hit drastically with the recent Plunge of the Turkish Lira.
31 August 2018
Which Way To Pay
Our Homeland Currency South African Rand has taken a drastic hit with the Lira on the drop.
Everyone wants that special vehicle , but cant always afford it straight away
18 April 2017
Which Way To Pay
We all know its nice do drive a new car , but not everyone has the cash available , Vehicle loans are the answer