Volkswagen SA, owner of the SEAT franchise in South Africa, has said that it will stop selling SEAT brand new vehicles in the country.
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The importer said that current and expected circumstances make the ongoing importation of a niche brand in the South African market non-viable.
New car sales in South Africa declines by 33% in August under the weight of higher interest rates and economic slowdown.
August reached 25,304 units, a decline of 32.9% on the same month last year.
Volkswagen Group sold 6,000 units in August and was second in the market to Toyota. Much of its sales are of Volkswagen brand cars made locally.
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By GlobalData
