Ricochet News

November 2014 New Vehicle Exports Reflected Further Upward Momentum

DECEMBER 2, 2014
November 2014 New Vehicle Exports Reflected Further Upward Momentum

New vehicle exports in November “reflected further upward movement,” the National Association of Automotive Manufacturers of South Africa (Naamsa) said in a statement today.

The figures show that 28 021 new vehicles were exported last month, and improvement of 2 519 or 9.9% compared to the same month last year.

Naamsa said a “major contribution came from the relatively high export numbers by Mercedes Benz”.

Looking ahead, it said that against the background of “normalized industry vehicle production volumes, further improvement in export numbers may be anticipated over the remainder of 2014 and through 2015”.

Naamsa said that overall following “the remarkably strong sales performance in October 2014,” aggregate November 2014 new vehicles sales had, as expected, showed consolidation.

Industry sales at 51 098 reflected a “marginal improvement” of 468 vehicles or 0.9% compared to the same month last year.

However, it added, compared to the October 2014 total industry sales of 59 380, there was a decline of 2 282 vehicles or 13.9%.

Naamsa said in the absence of detailed sales data from Mercedes Benz it was not possible to provide the percentage split between dealer sales, vehicle rental, government and single units for the industry as a whole.

The Association said estimated industry sales of light commercial vehicles, bakkies and mini-buses at 15 076 units during November reflected an improvement of 1 468 units or 10.8%.

Looking ahead, Naamsa said “it remained conservative regarding the expected performance of the automotive sector for the balance of 2014 and into 2015.

“Subdued economic growth, past increases in interest rates and above-inflation new vehicle prices raises results in a difficult trading environment, particularly at franchise dealer level.” - MetroMinutes.


Photo courtesy of www.enca.com