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New Vehicle Sales Growth Slowing| News by Staff Reporter
Growth in new vehicle sales slowed compared to Q1 last year
New vehicle sales in Q1 2012 grew at a slower rate than the same period last year, according to the National Association of Automobile Manufacturers SA (Naamsa).
Naamsa on Tuesday said that while there had been growth in new vehicle sales in the first quarter of 2012 the rate of growth had slowed compared to 2011.
“All sectors registered significantly slower growth during the first quarter of 2012 compared to the corresponding quarter in 2011,” said the association.
Naamsa’s quarterly review of business conditions listed these sectors as including passenger cars, and light, medium and heavy commercial vehicles.
The association said a total of 110,719 new cars were sold in the first quarter of 2012, 10% higher than the first quarter of 2011, while commercial vehicle sales reached 46,024 units sold, an improvement of 0,8%.
It said it expected domestic vehicle sales to increase in 2012, albeit at a slower rate than the past two years.
“Export sales are likely to remain under pressure in the short term and over the long term will remain a function of the performance and direction of global markets.”