New vehicle sales ends 2015 flat
New vehicle sales for 2015 ended on the back foot with a decline in monthly as well as year-on-year sales the National Association of Automobile Manufacturers of South Africa (NAAMSA) said.
Aggregate total domestic sales for December fell 4.1% from 51 421 units in 2014, to 49 250 in 2015. Individual segments ended the year on a mixed note with the sale of passenger vehicles dropping 7.6%, while light commercials gained 4.6%.
A notable decrease was also posted in the sales of medium and heavy duty commercial vehicles, with the market contracting by 2.2%. Exports registered its biggest decline of the year dropping 20.3% from 21 830, to 17 391 units.
Overall sales for the year reflected a decrease of 4.1% from the 644 239 units in 2014, to 617 927 with the slowing economy and rising pressure on consumers being the main reasons.
In a statement, the origination said it expects domestic sales to slide further in 2016 with exports however continuing to gain momentum.
“Domestically, economic growth continues to disappoint and South Africa’s fiscal position remains under pressure as a result of difficulties experienced by a number of state owned enterprises, rising expenditure on social programmes and increased debt servicing costs,” NAAMSA said.
“South Africa’s potential for economic growth remains solid but requires structural reforms and resolute implementation of the National Development Plan to encourage investment, growth and employment. It is against this background that the outlook for domestic sales in 2016 remains uninspiring and, at this stage, a decline in total new vehicle sales of between 3.0% and 5.0% is anticipated”.
BREAKDOWN: DOMESTIC NEW VEHICLE SALS 2015 vs 2014
|SEGMENT||UNITS (2014)||UNITS (2015)||Y/Y CHANGE|
|Passenger cars||438 942||412 826||-5.9%|
|Light commercials||173 759||174 490||+0.4%|
|Medium commercials||11 024||10 488||-4.9%|
|Heavy, Extra Heavy
Commercials & Buses
|20 534||20 123||-2.0%|
|Total||644 239||617 927||-4.1%|
BREAKDOWN: EXPORTS 2015 vs 2014
|276 936||337 748||+20.5%|
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