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

02 October 2012 16:00 - Which Way to Pay

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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,”

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