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%).
BOOST FOR BUYERS
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.”
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%).
BOOST FOR BUYERS
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.”