New vehicle sales improve 23% in March

New vehicle sales domestically improved by 23% in March, compared to the same month in 2010, the National Association of Automobile Manufacturers of South African (Naamsa) said on Monday.

“… New vehicle sales, in all the major segments, had registered further strong gains compared to the corresponding month last year,” Naamsa said in a statement.

Aggregate industry domestic sales improved by 23% to 53 478 vehicles from 43 541 units sold during March last year.

In addition, total domestic sales for the first quarter of 2011 were 22% ahead of the corresponding three months in 2010.

Of the new vehicle sales for March, 86% were dealer sales and 6% represented sales to the government.


Also, 4% were corporate fleet sales and 3% represented sales to the car rental industry.

New car sales for March 2011 showed a “substantial improvement” of 24% compared to March 2010.

‘Strong recovery’
“The strong recovery in sales of new cars over the past 15 months reflected a robust recovery on the consumption side of the South African economy driven by the 6,5% decline in interest rates since December 2008 which had improved the financial position of consumers and businesses and reduced the debt servicing costs of households and companies,” Naamsa said.

Aggressive marketing campaigns also contributed to improved sales levels.

“Concerns about future availability of Japanese products, affected by the natural disasters in Japan, may have contributed to some pre-emptive buying in the month,” it said.

Sales of industry new light commercial vehicles, bakkies and minibuses improved by 22% in March compared to the corresponding month in 2010.

“As anticipated, light commercial vehicle sales are starting to show signs of a fairly strong revival on the back of improved economic activity levels.”

The low volume bus segment did not show much improvement.

The medium truck segment sales improved by 17% in March 2011, compared to March 2010.

Over the same period, heavy truck segment sales improved 21% to 1 691 units sold.

“The ongoing gains in medium and heavy truck sales suggested an improvement in fixed investment sentiment in the economy.”

Naamsa said total export sales at 29 254 vehicles in March 2011 represented the highest monthly vehicle export performance on record for a single month.

March 2011 export sales improved 37% compared to March last year.

“With further recovery in the global economy expected during course of 2011, industry export sales were expected to reach 300 000 units in 2011.” — Sapa

Subscribe to the M&G for R2 a month

These are unprecedented times, and the role of media to tell and record the story of South Africa as it develops is more important than ever.

The Mail & Guardian is a proud news publisher with roots stretching back 35 years, and we’ve survived right from day one thanks to the support of readers who value fiercely independent journalism that is beholden to no-one. To help us continue for another 35 future years with the same proud values, please consider taking out a subscription.

And for this weekend only, you can become a subscriber by paying just R2 a month for your first three months.

Related stories

Indians in South Africa, a historical excerpt

In the book, The Indian Africans, academic Kiru Naidoo explores the society of colonial Natal in the late 1800s to early 1900

A colossus with feet of clay

South Africa is disproportionately targeted by cybercriminals. Digital attacks call for digital solutions and technology is a the prime weapon in this fight

The president, the preacher and the great escape

Malawi’s new president was furious after Shepherd Bushiri’s dramatic disappearance from South Africa

Patel: South Africa on target to attract R1.2-trillion in investments

The trade minister says the country is on track to reach more than R1-trillion worth of investments over five years, despite Covid-19 disruptions

South Africa must revisit and refresh its idea of itself

Covid has propelled citizens into feelings of a new shared identity in which the historical force of ‘whiteness’ is fading into irrelevance

Institutions of higher learning should commemorate their casualties

The bust of Matikweni Nkuna at Tshwane University of Technology is an example of how we should honour those who fought for equal access to education
Advertising

Subscribers only

ANC: ‘We’re operating under conditions of anarchy’

In its latest policy documents, the ANC is self-critical and wants ‘consequence management’, yet it’s letting its members off the hook again

Q&A Sessions: ‘I think I was born way before my...

The chief executive of the Estate Agency Affairs Board and the deputy chair of the SABC board, shares her take on retrenchments at the public broadcaster and reveals why she hates horror movies

More top stories

DRC: Tshisekedi and Kabila fall out

The country’s governing coalition is under strain, which could lead to even more acrimony ahead

Editorial: Crocodile tears from the coalface

Pumping limited resources into a project that is predominantly meant to extend dirty coal energy in South Africa is not what local communities and the climate needs.

Klipgat residents left high and dry

Flushing toilets were installed in backyards in the North West, but they can’t be used because the sewage has nowhere to go

Nehawu leaders are ‘betraying us’

The accusation by a branch of the union comes after it withdrew from a parliamentary process
Advertising

press releases

Loading latest Press Releases…