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Vehicle sales continue to rise

2012-08-03 06:54

STILL GOING UP: New vehicles sales in South Africa continued to rise through July 2012.

Johannesburg - The number of new vehicles sold in July 2012 was up by 4.22% to 54 067 over June, the National Association of Automobile of SA has reported.

The total was also 18.34% more than the July 2011 figure.

Passenger vehicle sales increased from 35 913 in June to 37 844 in July – a 5.38% increase. Light commercial vehicle sales grew by 2.67% to 13 781 but medium commercial vehicles, buses and trucks sales decreased from 2541 in June to 2442 in July – the only segment to show a fall (-4.9%).


Passenger vehicles recorded an 18.16% year-on-year increase while light commercial vehicles had the highest year-on-year increase at 20.77%.

Wessel Steffens, head of vehicle and commercial asset finance at Absa, said there could be some boost for buyers after interest rates cuts in July.

Steffens added: "Interest-rate sensitive sectors of the economy such as the vehicle sector, will at best be supported by the rate cut, while little stimulus is expected to occur.”


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