South African vehicle sales improved by 11.7% year-on-year in November, driven by low interest rates and debt servicing costs, declining new vehicle prices in real terms, and the introduction of new models.
Vehicle sales reached 49 499 vehicles sold in November, the National Association of Automobile Manufacturers of SA (Naamsa) said on Friday.
A total 44 318 vehicles were sold in November 2010.
Total year to date domestic aggregate new vehicle sales remained 16% ahead of the corresponding 11 months of 2010. Export sales reflected an improvement of 17% in volume terms.
 |
| 2012 Audi A6 |
The major contributor to the decline was the lower contribution by the car rental industry due to seasonal factors.
"The slowdown in the rate of growth in the new vehicle sales cycle was consistent with the slower economic growth recorded in the general economy," Naamsa said.
"The low interest rate environment and corresponding lower debt servicing costs, declining new vehicle prices in real terms, the competitive trading environment and new model introductions should support domestic sales over the medium term."
The association anticipated growth to be at a more subdued rate in line with the overall performance of the South African economy.
"The direction of the global economy remained uncertain and international financial markets continued to be characterised by extreme volatility and turbulence. Prospects of slower global growth, particularly in developed economies, could impact on industry export sales going forward."
Moderation in export demand
Exports of South African produced vehicles in November 2011 at 20 480 units reflected a decline of 8 084 vehicles or 28.3% compared to the 28 564 units exported during November last year. The latest export sales figures suggested a moderation in demand in various international markets.
Of the overall sales of 49 499, 85.7% represented dealer sales, 5.8% of the sales were to government, 4.9% represented sales to the car rental industry and 3.6% represented industry corporate fleet sales.
Sales of industry new light commercial vehicles, bakkies and minibuses at 14 125 units during November, 2011, reflected a gain of 12.2% compared to the 12 591 units sold in November 2010. For the first 11 months of 2011, new light commercial vehicle sales were ahead by 11.5% compared to the corresponding period last year.
Sales of vehicles in the medium and heavy truck segments of industry was recorded at 844 units and 1 456 units respectively. Total year to date sales of medium, heavy commercial and buses remained 22.2% ahead of the corresponding 11 months of last year.
Good links
www.gr8insurance.biz (Insurance quotes RSA)
www.woza.mobi (Insurance quotes on your mobile)
bit.ly/come2rsa (Hotel discount special world wide)
bit.ly/dialdir (Submit name and phone number for quick quote )
Posts
No comments:
Post a Comment