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CAPE TOWN - National Association of Automobile Manufacturers of South Africa has revealed that new car sales have hit great strides recently, with 4,1% growth in July, up from 0,9% growth in June.

Wesbank says this growth is good fortune for this year's sales figures.

According to the financial institution, vehicle manufacturers have also taken advantage of the performance of the currency to directly pass value to consumers. This is seen in the number of attractive marketing incentives on offer to buyers in the new vehicle market.

Wesbank said it has received 124 526 applications, 30,4% for new cars and 69,4% for used cars.

Head of Brand and Communications at WesBank, Rudolph Mahoney said “July’s sales performance can be attributed to positive changes in the underlying fundamentals in the market.” 

The Hilux has topped the sales charts in the month of July, also claiming top spot as the country’s bestselling model year to date, this is according to Toyota South Africa Motors.

- BUSINESS REPORT