VEHICLE SALES SLUMP: Naamsa reports that vehicle sales in November decreased due to "subdued economic growth" and high vehicle prices. Image: Facebook
New vehicle sales in November declined by 2.5% compared to the same period in 2013, reports the National Association of Automobile Manufacturers of SA (Naamsa) on Tuesday (Dec 2).
There was a marginal improvement in industry sales in November with 51 098 vehicles sold. This was a 0.09% increase from the 50 630 vehicles sold in November 2013.
In October 2014, total industry sales were 59 380 vehicles.
SLIGHT DROP IN SALES
Naamsa said in a statement: "November 2014 new car sales at 33 278 showed a decline of 845 cars or a fall of 2.5% compared to the 34 123 new cars sold in November 2013.
"Some consolidation in the new car market had been expected following the exceptionally strong sales recorded during the month of October 2014 when 40 663 new cars had been sold."
Export sales improved to 28 021 vehicles in November 2014, up by 9.9% in 2013.
Naamsa: "The latest monthly new car market suggested ongoing pressure at retail dealer level.
"Subdued economic growth, past increases in interest rates and above-inflation new vehicle price rises, results in a difficult trading environment, particularly at franchise dealer level."