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

PW Botha wagged his finger and banned us in 1988 but we stood firm. We built a reputation for fearless journalism, then, and now. Through these last 35 years, the Mail & Guardian has always been on the right side of history.

These days, we are on the trail of the merry band of corporates and politicians robbing South Africa of its own potential.

To help us ensure another 35 future years of fiercely independent journalism, please subscribe.

Advertisting

Test backlog skews SA’s corona stats

With thousands of samples still waiting to be processed, labs are racing to ramp up testing to help the government gain a better idea of how prevalent Covid-19 really is

M&G’s latest Covid-19 projections

Covid-19 numbers are prompting disaster declarations and dramatic action across South Africa this week. All steps should be directed by numbers

Press Releases

The online value of executive education in a Covid-19 world

Executive education courses further develop the skills of leaders in the workplace

Sisa Ntshona urges everyone to stay home, and consider travelling later

Sisa Ntshona has urged everyone to limit their movements in line with government’s request

SAB Zenzele’s special AGM postponed until further notice

An arrangement has been announced for shareholders and retailers to receive a 77.5% cash payout

20th Edition of the National Teaching Awards

Teachers are seldom recognised but they are indispensable to the country's education system

Awards affirm the vital work that teachers do

Government is committed to empowering South Africa’s teachers with skills, knowledge and techniques for a changing world

SAB Zenzele special AGM rescheduled to March 25 2020

New voting arrangements are being made to safeguard the health of shareholders

Dimension Data launches Saturday School in PE

The Gauteng Saturday School has produced a number of success stories