New vehicle sales showed a decline of 19,7% compared to the corresponding month last year, the National Association of Automobile Manufacturers of South Africa (Naamsa) said on Monday.
”For the balance of 2008, in the domestic market, new vehicle sales will remain under severe pressure as a result of the cumulative impact of interest rate rises, inflationary pressures, high levels of personal debt and the slow down in economic activity,” the organisation said.
New passenger car sales showed a decline of 19,1%. Factoring in the new car sales not reported in detail, the year-on-year decline had amounted to a fall of 20,1%.
”Despite the fact that July was traditionally a relatively strong month from a seasonal perspective, the daily sales rate during July 2008 continued to hover around the lowest levels experienced over the past four years.”
However, demand from car rental companies had provided support, Naamsa said.
The downturn in light commercial sales accelerated further during July, Naamsa said. Sales of new light commercial vehicles, bakkies and minibuses reflected a decline of 23,5% compared to the corresponding month last year.
Taking account of the light commercial vehicles sales reported by the AMH Group, the year-on-year decline amounted to 4 560 units or 24,7%, Naamsa said.
Sales of vehicles in the medium and heavy truck segments of the industry reflected a mixed picture during July.
A decline of 24,1% was recorded for medium commercials, while heavy trucks showed a gain of 6,1% compared to the corresponding month last year.
During July 2008 the industry’s new vehicle exports set a new monthly record, Naamsa said.
A total of 28 269 new vehicles were exported, representing an improvement of 13 022 vehicles or 85,4% compared to the 15 247 vehicles exported during July last year.
For the first seven months of 2008, export sales reflected an impressive year on year improvement of 59,5%. – Sapa