May motor trade sales up 8.6%

Motor trade sales rose in nominal terms by 8.6% year-on-year in May from 15.7% year-on-year in April‚ Statistics SA figures showed on Thursday (18 July).
May motor trade sales up 8.6%

The highest annual growth rates were recorded for new vehicle sales (13.9%)‚ used vehicle sales (10.2%) and fuel sales (6.6%).

The results of the monthly motor trade sales survey are used to compile estimates of the gross domestic product and its components‚ which are used in monitoring the state of the economy and formulation of economic policy.

Seasonally adjusted motor trade sales decreased by 3% in May 2013 compared with April 2013. This followed month-on-month changes of 11.7% in April 2013 and -3.6% in March 2013.

Seasonally adjusted motor trade sales increased by 4.0% in the three months ended May compared with the previous three months.

Unadjusted motor trade sales rose by 9.7% in the three months ended May compared with the same three months ended May last year.

The major contributors to this increase were new vehicle sales‚ fuel sales and used vehicle sales.



SOURCE

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