Data released by the National Association of Automobile Manufacturers of South Africa (NAAMSA) shows that the rate of decline in South Africa’s vehicle market is continuing to slow.
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South Africa’s total industry new vehicle sales declined by 19.5% to 35,931 units in September.
New car sales were down 15.8% on last year at 24,471 units.
NAAMSA said the car market result for September ‘represented an improved performance in relation to previous months’ and that the selling rate of total new cars per day had improved for the second consecutive month.
In the first nine months total new vehicle sales stood at 294,481 units, a decline of 30.3% on last year.
NAAMSA said the impact of the global financial and economic crisis was reflected in the lower number of vehicles exported by the industry during September, 2009. Aggregate industry export sales at 13,974 vehicles were 49.3% down on last year.
It also said that the domestic operating environment would remain difficult in the short to medium term and any improvement to local vehicle sales would depend on a revival in consumer spending and lower interest rates.
