South Africa’s new vehicle sales dropped by 13,8% to 47 707 units in November compared with the same month last year, the National Association of Automobile Manufacturers (Naamsa) said on Tuesday.
Naamsa said trading conditions, particularly in the new car market, remained under severe pressure mainly due to higher interest rates, record high household debt levels, and eroded disposable income from rising inflation.
Including sales from Associated Motor Holdings — incorporated for the first time in 2007 — total sales were 52 400 vehicles in November. — Reuters