November sees healthy jump in new-vehicle sales

1st December 2017

By: Irma Venter

Creamer Media Senior Deputy Editor

     

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South African new-vehicle sales experienced yet another positive month in November, countering general negative economic sentiment for the sixth month in a row, with new-vehicle sales up 7.2% compared with November last year.

Statistics released by the Department of Trade and Industry on Friday showed that the positive run was led by new passenger car sales increasing by 16.4%, to 32 821 units.

The car rental industry made a strong contribution ahead of the holiday season, with one in five new cars sold entering this segment, said the National Association of Automobile Manufacturers of South Africa (Naamsa) in a statement.

Other major contributing factors had been the continuation of attractive sales incentives, sharply lower new vehicle price inflation and stable interest rates, noted the association.

Sales of new bakkies, vans and minibuses did not, however, reflect the same positive sentiment, with sales down 7.4%, to 14 587 units.

Medium truck sales also declined, dropping by 15.7%, to 688 units.

Heavy truck and bus sales inched up marginally, growing by 1.9% to 1 658 units.

Naamsa said new truck sales numbers continued to reflect subdued investment sentiment in the South African economy. 

For the second month in succession, new-vehicle exports had been affected by the impact of recent inclement weather on Durban Port operations, as well as the model runout and impending new model introduction of the Volkswagen Polo, added the association.

Exports from South Africa declined by 13.7% compared with November last year, to 27 178 units.

Naamsa said it expected a 2% increase in new-vehicle sales in 2017 compared with 2016. 

“Going into 2018, new vehicle exports were expected to recover on the back of positive global economic growth prospects.”

Naamsa anticipated the release of full-year sales numbers for 2017 on January 9.

Edited by Creamer Media Reporter

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