The slow-down in the South African car market continued in July as 53,000 vehicles were registered compared to 56,000 a year ago, a decline of over 6.4%. Sales had fallen 12% in June.
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New passenger car sales were down 7.7% in the first seven months of the year. In July sales reached 32,199 units, a decline of 13.8% compared to a year ago.
The South African vehicle market appears to be softening. Recent interest rate rises have cut consumer spending, and the market has been growing strongly for the last three years, suggesting that some consolidation is taking place. The South African automotive industry trade association, NAAMSA, also attributes the decline to technical difficulties with a new line registration system called eNatis, which has caused delays for people attempting to register new and used vehicles.
Light commercial vehicle sales totaled 17,195 units in July, an increase of 6.2% compared to a year ago. Medium and heavy truck sales were 3,500 units compared to 4,000 units in July 2006, a decline of 13.5%.
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By GlobalData
