Ricochet News

Massive Increase In New Vehicle Exports In September

Oct 2, 2014
Massive Increase In New Vehicle Exports In September

Exports of new vehicles increased by 22 180 or 256% in September compared with the “strike-ravaged industry total of 8 598 vehicles exported in September 2013”.

The figures, released by the National Association of Automobile Manufacturers of SA (NAAMSA) that overall the latest industry figures “reflected a remarkable strong performance with sales in all sectors showing above average increases compared to the corresponding month last year”.

NAAMSA said “despite subdued economic growth and pressure on consumers’ disposable income,” at 60 854 “reflected a substantial improvement” of 6 283 vehicles or 11.5% compared with the 54 571 units sold in September 2013.

It said that assisted by a record contribution from the rental car industry, which accounted for 23.5% of all new sales in September, the new car market had per-formed “above expectations”.

Adding a note of caution, NAAMSA said that while domestic and ex-port sales “was encouraging, it was advisable to retain a cautious position regarding the outlook for the automotive sector for the balance of 2014.

“Lower economic growth, recent increases in interest rates, the possibility of another interest rate hike before year end and above inflation new car prices rises, would com-bine to ensure that the new vehicle sales trading environment would remain difficult.”

NAAMSA added that the domestic market was “expected to register a decline, in volume terms of be-tween 4% and 5% compared to 2013”. -MetroMinutes