Figures released by the National Association of Automobile Manufacturers of South Africa (NAAMSA) show that South African vehicle sales dropped sharply in June. Vehicle sales in June totalled 28,374 units – 13.3% below June of last year.
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NAAMSA said that sales in the month were ‘slow and difficult’, particularly following a mid-month rise in interest rates.
In the event, aggregate industry sales for June, 2002 at 28 374 units reflected a fairly sharp decline of 4 365 units or 13,3% compared to the 32 739 units sold during the corresponding month last year.
In the first half of the year sales of new cars reached 114,491 units, 3.7% below last year.
The South African car market is expected to decline in the second half of the year as the annual comparison will be against a fast running rate in the second half of last year. Car prices in South Africa are also expected to edge up further reflecting the lagged impact of rand depreciation.
However, exports of motor vehicles remain well ahead of year-ago levels. In the first five months of 2002 aggregate industry exports were 44.5% ahead of last year.
South African vehicle exports by vehicle type (units)
| Apr-02 | May-02 | Jan.-May 2001 | Jan.-May 2002 |
| | | | |
Cars | 10 475 | 10 792 | 33 343 | 49 119 |
Light Commercials | 1 079 | 963 | 3 838 | 4 595 |
Medium and Heavy Commercials | 56 | 51 | 137 | 208 |
Total Exports | 11 610 | 11 806 | 37 318 | 53 922 |
