Another good month for vehicle sales

The domestic sales trend began an upward curve in September and continued in October with a 4.7% growth of 2 654 more vehicles sold than October 2013.The 77.2% bulk of October sales were through dealerships, 14.3% represented sales to the vehicle rental industry, 4.3% to government and 4.2% to industry corporate fleets.

With strong support from the car rental industry (which accounted for 19.5% of all new cars sold in October), the car market grew by 646 for a month total of 40 666.

It was also the second month this year that monthly car sales registered year on year growth.

Light commercial vehicles sales were up by 14% while trucks and buses were also up 10.4%.

Industry sources warned that although the October figures were encouraging it was advisable to retain a cautious outlook because trading conditions remain difficult due to subdued economic growth, interest rates that remain high and above-inflationary new vehicle price rises. Total sales for the year could reach similar levels to those recorded in 2013.