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August motor trade sales up 7.3% y/y
Motor trade sales‚ measured in nominal terms (current prices)‚ increased by 7.3% year-on-year in August according to data released by Statistics SA on Thursday (17 October).
Motor trade sales are up year-on-year. Image: freedigitalphotos.net
The highest annual growth rates were recorded for fuel sales (17%) and new vehicle sales (8%).
Seasonally adjusted motor trade sales decreased by 1.3% in August compared with July. This followed month-on-month changes of 5.2% in July and -2.5% in June.
Seasonally adjusted motor trade sales increased by 1.4% in the three months ended August compared with the previous three months.
Motor trade sales increased by 8.1% in the three months ended August compared with the same period a year ago.
The major contributors to this increase were: fuel sales (13% and contributing 3.3 percentage points); and new vehicle sales (8.5% and contributing 2.5 percentage points).
Source: I-Net Bridge
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