South African vehicle sales reportedly got off to a flying start last month with fresh records being set after the number of vehicles sold there in one year hit a record high last year.
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Citing National Association of Automobile Manufacturers of SA (Naamsa) figures, Business Daily said on its website that domestic passenger car sales were the highest they have been in any January, surging 22.2% year on year.
Nearly 29,000 cars were sold last month as consumers flocked to dealerships, spurred by stable vehicle prices and historically low interest rates, the report added.
Total vehicle sales passenger and commercial vehicles achieved by Naamsa and non-Naamsa members could rise from last year’s record high of 481,000 units to about 505,000 this year, Frank Beeton of Econometrix told just-auto.
Econometrix’s outlook for the industry was “very optimistic” not only for this year but for the next five to six years as the macroeconomic factors buoying vehicle sales were favourable.
According to Business Day, Naamsa reported a 20.9% year on year increase in total new vehicle sales to 40,627 units last month – sales in all segments registered gains on those of the same month last year.
Exports have dropped substantially, however, the report noted.
Naamsa export figures for last year showed a 12.2% drop year on year as the industry came under pressure from the rand and highly competitive global market conditions.
Still, car exports generated R18 billion, Business Day said.
South African car industry exports to markets world-wide include Volkswagen’s Golf, the Mercedes C-class, BMW 3-series and Toyota Corolla.
