The National Association of Automobile Manufacturers of South Africa (NAAMSA) has reported that new car sales in South Africa were down 25.8% on last year in June to stand at 22,861 units.
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The trade body said that for the balance of 2008 new vehicle sales would remain under severe pressure as a result of the cumulative effect of interest rate rises, inflationary pressures, high levels of personal debt and a slowdown in economic activity.
The daily sales rate during June, 2008 represented the lowest level in over four years, NAAMSA said.
However, there was better news on exports. During June the industry exported 23,191 new vehicles – a 78.3% gain on last year. compared to the 13 004 vehicles exported during June last year. For the first half of 2008, export sales ware up 52.7% on last year’s pace.
