SA's new vehicle sales surprise

Domestic new vehicle sales grew by three percent in June, beating industry expectations.

According to the National Association of Automobile Manufacturers of South Africa (Naamsa), new vehicle domestic sales exceeded the industry’s expectations, growing by three percent last month. New vehicle sales came to 46,678 units, compared to the 45,332 units sold in June last year.

Naamsa said in a statement:

“The improvement in domestic sales, particularly new car sales, was encouraging, given recent weak economic growth and investment numbers. It appeared that the new car market had been supported by improved business and consumer confidence.”

Naamsa says that ordinarily, vehicle sales improve in the second half of the year. Thus, they expect “modest” improvements in domestic sales for 2018, compared to 2017.