Following the release of the January new vehicle sales figures by the National Association of Automobile Manufacturers of South Africa (Naamsa), local firms have noted the brisk start to 2006 with a 20.3% year-on-year increase in January vehicle sales.
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During 2005, total new vehicle sales in South Africa breached the 600,000-unit level for a 28.3% increase to a record 617,540 units.
Noting that market conditions still augured well for new vehicle trade, General Motors South Africa sales marketing director Malcolm Gauld told the Sunday Times (SA) that a combination of a stable rand, sustained low interest rates and good levels of consumer confidence would continue to drive sales during 2006.
“It is expected that automakers will make full use of these conditions, and particularly towards consolidating and improving their market position and competitiveness,” he added.
“As far as the outlook for the market in 2006 is concerned, the beginning of the year has been characterised by enormously buoyant economic circumstances with robust consumer demand already having driven economic growth to levels of probably around 5% for 2005,” said Mike Glendinning, sales and marketing director at Volkswagen of South Africa.
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