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.
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By GlobalDataHowever, 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 |
