South Africa’s automotive trade association NAAMSA has reported that South Africa vehicle sales in May declined 34.7% year-on-year to 25,819 units as the economic downturn continued to hit sales.
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NAAMSA reported new car sales at 16,505 units, a decline of 27.2% on last year.
On a year to date basis, 2009 new vehicle sales are down 35.8% at 157,141 units.
The decline in exports of South African produced motor vehicles had continued during May and export sales at 13,612 vehicles were 41.3% down on last year.
NAAMSA said in a statement that ‘2009 will represent an extremely difficult year for the entire South African automotive industry’. All sectors of the industry – vehicle retail, auto parts manufacturing and vehicle production – continue to experience severe and unprecedented viability challenges, it said.
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By GlobalDataHowever, it also said that recent reductions in interest rates should bring relief to hard pressed consumers and businesses.
