STILL FALLING

12th September 2014 By: Darlene Creamer

STILL FALLING

New-vehicle sales declined by 1.4% to 55 722 units in August, compared with the same month in 2013. The outlook for the South African automotive sector for the balance of 2014 is also expected to remain challenging, owing to a combination of low economic growth, recent increases in interest rates and above-inflation price increases. The domestic market is now expected to decline by between 4% and 5%, compared with last year.