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Motor trade sales down 1.6% y/y in July
Motor trade sales fell 1.6% in July compared with a year earlier, driven mostly by a 10.4% fall in new vehicle sales. July's fall follows a 0.3% increase in June.
©welcomia via 123RF
The motor trade is a constituent of SA's third-largest economic sector, along with the wholesale and retail trades, and catering and accommodation. Sales growth in both the wholesale and retail trades slowed in July.
From June to July, sales in the sector rose 1.7%, Statistics SA said on Thursday, led by used vehicle sales, up 9.7%, and a 9.2% increase in sales of accessories.
Earlier this month the National Association of Automobile Manufacturers of SA (Naamsa) reported new vehicle sales fell 9.5% in August from a year earlier, while figures released by the Department of Trade and Industry on the same day showed the South African motor industry sold 46,146 vehicles in August, compared with 50,985 a year earlier.
Source: BDpro
Source: I-Net Bridge
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