New vehicle sales up – Naamsa

Picture: AFP.

Picture: AFP.

Sales of new vehicles increased by 4.7 percent in October compared to the same month last year, the National Association of Automobile Manufacturers of SA (Naamsa) said on Monday.

“Domestic new vehicle sales for the month of October 2014, in aggregate terms at 59,262 units, reflected a substantial improvement of 2654 vehicles, or a gain of 4.7 percent,” it said in a statement.

This was despite subdued economic growth and pressure on consumers’ disposable income.

Out of the total reported industry sales of 59,262 vehicles, 77.2 percent represented dealer sales, 14.3 percent sales to the vehicle rental industry, 4.3 percent to government, and 4.2 percent to corporate fleets.

Export sales reached a record number of 32,165 vehicles.

The increase reflected an improvement of 7973 vehicles, or a gain of 33 percent, compared to the strike-affected total of 24,192 vehicles exported in October last year.

Naamsa said this was the second time this year that monthly new car sales registered year-on-year growth.

It said the “star performance” was domestic sales of new light commercial vehicles, bakkies and minibuses — at 15,827 units last month.

This was an improvement of 1941 units, or 14 percent, compared to the 13,886 light commercial vehicles sold during October 2013.

Compared to the corresponding month last year, sales of vehicles in the medium and heavy truck segments of the industry, at 889 units and 1880 units respectively, reflected a mixed performance.

Medium commercial vehicle sales declined by 110 units, or 11 percent, while heavy trucks and buses improved by 177 units, or 10.4 percent.

“Whilst the improvement in underlying domestic new vehicle sales and export sales was most encouraging, it was advisable to retain a cautious outlook regarding the expected performance of the automotive sector for the balance of 2014 and into 2015,” Naamsa said.





today in print