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New vehicle sales drop to 52‚837 units in June

2 Jul 2014

New vehicle sales slipped for the sixth consecutive month in June as the tough economic environment cut into consumer spending.

Sales of new passenger vehicles fell sharply in June dropping 5.4% to 35‚355 units countrywide

Sales of new vehicles dropped by 2.3% to 52‚837 units in June compared with the same period a year earlier‚ the National Association of Automobile Manufacturers of South Africa (Naamsa) said.

The new passenger car market remained under pressure‚ dropping 5.4% to 35‚355 units‚ while exports slipped 0.8% to 24‚024 units.

The industry body also warned of the potential consequences of the industrial action in the steel and engineering sector for vehicle production and exports.

The association said the current strike in the steel and engineering industry over wages was "most unfortunate" as it would further undermine investment and‚ if prolonged‚ would increase the risk of economic recession.

"The effect on vehicle production and exports would start to be felt if the industrial action continued beyond two weeks‚" the association warned.

The domestic sales of new light commercial vehicles‚ bakkies and minibuses lifted by 4.5% compared with the corresponding month last year.

Sales of vehicles in the medium and heavy truck segments of the industry reflected a mixed performance‚ with medium commercial vehicle sales showing a decline of 10.4%‚ while heavy trucks and buses registered an improvement of 14.7%.

Source: I-Net Bridge

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