Truck market showed steady growth in May
Sales in the local truck market continued its steady growth in May, despite a bigger-than-expected slowdown in South Africa’s economic growth.
This is according to the latest combined sales numbers released by the National Association of Automobile Manufacturers of South Africa, Associated Motor Holdings and Amalgamated Automobile Distributors in May.
May truck sales increased by 5.23% when compared with the corresponding month last year, to a total of 2677 units.
“Last month’s sales results were once again an encouraging sign that the market could still conclude 2013 in the positive,” says UD Trucks Southern Africa MD Jacques Carelse.
“However, the new truck market faces multiple challenges, such as the risk of an increase in inflation, a volatile rand exchange rate, renewed labour unrest and a general drop in the economic growth forecast of the country.”
Breaking the results down into the various segments, it is clear that the heavy commercial vehicle segment fared the best in May, with a 20.8% increase in sales to reach 483 units.
Carelse says the growth in this segment can mainly be attributed to a number of big deals and tenders concluded by various truck manufacturers during May.
Medium commercial vehi- cles experienced a slight decline of 0.3% to 961 units, while the extra-heavy commercial segment increased by 12% to 1175 units.
Bus sales slumped to 58 units during May, a 55.7% decline, but the segment was expected to rebound as various rapid bus transport systems were imple- mented across a number of cities in South Africa.
“With the year coming to its halfway mark in June, we should by then have a better indication of what sales will do towards the end of the year,” says Carelse.
“One also has to keep in mind that we are now entering what is traditionally the best sales months for the truck industry every year, and it will be interesting to see what impact the local economic indicators will have on fleet owners’ propensity to buy.”
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