Spike in motor trade sales of 15.8%

Motor trade sales rose in nominal terms (current prices) by 15.8% year-on-year (y/y) in April from 5.2% y/y in March‚ Statistics SA figures showed on Thursday (13 June).

The highest annual growth rates were recorded for workshop income (22.7%)‚ new vehicle sales (21.7%) and used vehicle sales (20.2%).

The results of the monthly motor trade sales survey are used to compile estimates of the gross domestic product (GDP) and its components‚ which are used in monitoring the state of the economy and formulation of economic policy.

These statistics are also used in the analysis of comparative business and industry performance.

Seasonally adjusted motor trade sales increased by 11.7% in April compared with March following decreases of 3.1% in March and 3.5% in February.

Seasonally adjusted motor trade sales rose by 2.7% in the three months ended April compared with the previous three months.

Motor trade sales increased by 9.4% in the three months ended April compared with the three months ended April last year.

The major contributors to this increase were new vehicle sales‚ contributing 3.8 percentage points; fuel sales‚ contributing 2.7 percentage points; and used vehicle sales‚ contributing 1.2 percentage points.