PRETORIA - The South African motor industry continues to see-saw, with November 2019 seeing a 5.8 percent decline in overall vehicle sales, versus the same month last year, according to Naamsa. This follows the slight uptick of 0.5 percent registered in October, which is traditionally a strong sales month.
While light commercial vehicle sales plunged in November, with a year-on-year decline of 22.1 percent, passenger car sales showed a slight improvement of 1.3 percent, largely as a result of strong demand from the rental industry. The medium and heavy commercial vehicle segments registered respective declines of 7.6 percent and 1.8 percent.
Vehicle exports showed a slight decline of 0.9 percent versus November last year, however, the bigger picture looks rosy, with a new annual record of 374 215 units having been set with one month still to go until year-end.
“The current low economic growth environment and enduring pressure on household disposable income due to rising costs of living are not conducive to uplifting business and consumer confidence,” Naamsa said in response to November’s sales figures.
“As a result, conditions in the domestic new vehicle market were expected to remain under pressure over the short to medium term.”