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Vehicle sales down 2.9% to 56‚927 y/y in October
New vehicle sales declined by 2.9% on an annualised basis to 56‚927 units in October‚ reflecting the effect of the recent strike in the automotive industry‚ latest data show. New passenger vehicle sales declined by 4.4% to 40‚102 units.
Car sales dropped in October. Image: Idea go Free Digital Photos
The car rental industry contributed positively to the October sales numbers‚ accounting for 17.4% of new cars sold during the month‚ according to the latest National Association of Automobile Manufacturers of SA (Naamsa) data released by the Department of Trade and Industry.
Domestic sales of new light commercial vehicles‚ bakkies and mini buses improved marginally by 24 units to 14‚125 compared with sales in October last year.
Medium commercial vehicle sales recorded a 10.5% rise to 996 units and heavy trucks and buses registered a 2.2% gain to 1‚704 units.
New vehicle exports declined by 15.1% to 21‚125 vehicles‚ largely because of the strikes in the automotive sector.
As a result‚ the original industry projection for 2013 of vehicle exports of 336‚000 units was likely to be revised to about 290‚000 units this year.
"Despite a less promising outlook for the automotive sector‚ the year as a whole would still represent the second or third best year on record in terms of domestic sales‚" Naamsa said in a statement.
Source: I-Net Bridge
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