South African new-vehicle sales are estimated to have grown by 2% in 2017, compared with 2016, while 2018 is expected to produce further “modest growth”, says the National Association of Automobile Manufacturers of South Africa (Naamsa).
The association has released its third-quarter review of business conditions in the local automotive industry.
New-vehicle sales are projected to increase from 558 200 units in 2017 to 572 00 units in 2018.
Naamsa says its projections are based on the assumptions of a stable macroeconomic environment; no further credit ratings downgrades; no interest rate increases; and further improvement in South Africa’s economic growth.
Naamsa has announced its new office bearers. Toyota South Africa Motors (TSAM) CEO Andrew Kirby has been elected the association’s new president, taking over from Nissan South Africa MD Mike Whitfield.