According to the latest new vehicle sales statistics all segments of the South Africa market recorded growth – between 10 and 17 per cent – in May compared with the same period last year. However, there are signs of a gradual slowdown in sales growth.
According to the latest new vehicle sales statistics all segments of the South Africa market recorded growth – between 10 and 17 per cent – in May compared with the same period last year. However, there are signs of a gradual slowdown in sales growth.
Despite stock shortages experienced by some motor vehicle manufacturers, last month’s new car sales aggregate represented the strongest May sales performance on record and reflected an improvement of 4 986 new cars or 16,6 per cent compared with the 30 085 new cars sold during May, 2005.
Supported by the competitive domestic environment and new model introductions, the year-to-date new car market, in terms of new car sales reported through Naamsa, was 18,9 per cent ahead of the corresponding five months last year. Taking account of the 4 472 new cars sold – but not reported through the association – the May new car market reached a total sales figure of 39 543 units.
“In absolute terms the total market for the year-to-date of 253 288 units is still strong,” said Brand Pretorius, chairman of McCarthy Motor Holdings.
Light Commercial Vehicle (LCVs) sales increased by 10 per cent, compared with the same month last year, to 14 641 units. Medium Commercial Vehicles (MCVs) logged 1 311 sales – an 11,5 per cent increase on May 2005’s sales. Sales in the Heavy Commercial Vehicle (HCV) segment increased by 16,7 per cent on May 2005’s sales, to end the month on 1 511 units.
Due to the fact that May had 24 selling days, compared to April’s 19,5, sales in the past month increased by 15,2 per cent. “However, looking at the selling rate per day, it is evident that new vehicle sales might be slipping into a lower gear, albeit from a very high base,” said Pretorius.
“An analysis of the month-on-month growth rates also points to a gradual slowdown, particularly in the passenger and light commercial vehicle segments,” he said.
Pretorius added that high levels of business confidence, healthy economic growth, more affordable vehicles and buoyant consumer activity continue to underpin the market.
“An increase in consumer activity is evident amongst Black consumers. There is no doubt that the so-called ‘emerging market’ is rapidly becoming the main market,” he added.
Click here to download a summary of the latest new vehicle sales statistics as supplied by Naamsa.
Please note that because the sales figures supplied here have not yet been audited, CARtoday.com will not archive them. To access audited new vehicle sales figures for previous months, consult www.rgt.co.za.
Read comment from manufacturers and automotive retail groups on Page 2.
VWSA attained passenger market leadership in May with sales of 8 369 new cars and improved its year-on-year performance by 18,4 per cent, the Uitenhage-based manufacturer’s sales and marketing director Mike Glendinning said.
“With