SA's vehicle sales down 3.1% y/y

South African vehicle sales declined 3.1% to 51‚814 units in February from the similar period a year earlier‚ according to the latest figures from the National Automobile Association of SA (Naamsa)‚ which warned of tough times for the domestic market this year.

4 Mar 2014

Image courtesy of suphakit73 / FreeDigitalPhotos.net

New passenger car sales fell 5.4% to 34‚414 units in the review period‚ with new vehicle exports dropping 19.4% to 21‚819 units from a year-earlier period.

Domestic sales of new light commercial vehicles‚ bakkies and mini buses edged up 0.9% to 14‚879‚ the data showed. Sales of medium commercial vehicles declined 2.2% to 910 units while heavy trucks and buses were up 14.7% to 1‚611 units.

"Following four successive years of growth in domestic new vehicle sales‚ prospects for 2014 would be affected by subdued economic growth‚ above average new vehicle price increases as a result of exchange rate weakness and upward pressure on interest rates‚" the association said‚ warning of flat or even modest declines in vehicle sales this year.

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za