Naamsa reports that new car sales in October improved by 0,6 per cent over September, and were 20,1 per cent higher than the corresponding period last year.
Naamsa reports that new car sales in October improved by 0,6 per cent over September, and were 20,1 per cent higher than the corresponding period last year.
Total new vehicle sales during October held up well and at 34 705 units had recorded a noteworthy improvement of 3 845 units or 12,4 per cent compared with the 30 860 new vehicles sold the corresponding month last year, Naamsa reported.
Supported by strong retail demand, government and rental procurement – new car sales (24 177 units) reflected a gain of 4 056 cars or 20,1 per cent compared with the 20 121 units sales recorded during October last year. October’s sales were marginally ahead of the previous months’ performance having risen by 156 units (0,6 per cent) compared with September. Even though the selling rate per day declined during October, the new car market “appeared firmly entrenched in a strong upward phase”.
However, sales of new light commercial vehicles, bakkies and minibuses declined by 5,3 per cent during October. A total of 8 838 units were retailed – 495 fewer than the 9 333 light commercial vehicle sales recorded during the corresponding month last year. October’s light commercial vehicles declined by 679 units (7,1 per cent) on the sales of September – during which 9 517 light commercial vehicles had been sold.
Nevertheless, sales of vehicles in the medium and heavy truck segments of the industry continued to power ahead in October and at 640 units and 1 050 units, respectively. This was an improvement of 44 units (7,3 per cent) for the medium commercials sector and “a remarkable gain” of 240 units (29,6 per cent) in the case of heavy trucks and buses – compared to the corresponding month last year. The heavy trucking sector continued to be supported by strong replacement demand and positive investment sentiment, a Naamsa spokesman said.
Looking ahead, Naamsa said the aggregate market remained on course to exceed last year’s performance by between five and seven per cent in terms of volume.
New vehicle price stability on the back of the strong Rand, lower interest rates and extremely attractive incentive packages should serve to underpin demand for new cars and commercial vehicles over the medium term.
:: Click here for complete new vehicle sales figures in South Africa during October ::
