Johannesburg - The South African new vehicle market saw a year-on-year decline in November, according to Naamsa, with overall sales (at 47 486) down 4.6 percent on the same month last year.
The light commercial vehicle market saw the biggest decline of 6.1 percent year-on-year, while the passenger car sector experienced a 5.4 percent drop, but there was at least some good news on the medium and heavy commercial vehicle front, with those segments enjoying respective growth of 17.5 percent and 16.2 percent.
Export sales were up 2.5 percent over November last year, totalling 34 352, although work stoppages at various factories are said to have hampered exports during the month.
WesBank’s sales and marketing head Ghana Msibi partially attributes the drop in domestic sales to the interest rate hike that was announced during the month. Yet despite all that, consumer demand remains robust, he added:
“Considering WesBank application data, consumers are clearly keen to buy cars.