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New Vehicle Sales Rising
| News by Matthew Wood
New vehicle sales in South Africa are steadily increasing and reports from NAAMSA, the National Association of Automobile Manufacturers SA, show positive signs for one of South Africa’s key employment industries.Reports from NAAMSA indicate a 16.2% increase in new car sales year-on-year in February as well as a 12% increase from the previous month. Car makers estimate growth of 7% this year and NAAMSA has projected an increase of above 28,500 vehicle sales in 2010, and another 35,000 in 2011.
Of the 34,314 new vehicles sold in January this year, dealers and retailers represented 78.2%, industry corporate fleet sales represented 4.7% and 5% of the sales were to the government.
New car sales grew by 5,606 units in February year-on-year, showing an increase of 27.5% and new commercial vehicles, bakkies and minibuses increased 13.6% to 11,544 units over the same period.
For the January to February period, total industry sales climbed 18% when compared with last year’s figures.
NAAMSA reported a drop in export vehicle sales of 5.1% year-on-year in February, the total number of units sold dropping from 14,876 to 14,123. New vehicle exports fell by nearly 40% in 2009 compared to 2008.
The auto sector was especially hard-hit by the global downturn, and of the 900 000 jobs that were shed in South Africa during the recession, 200 000 of them were in the manufacturing sector.
The government has tried to help the carmakers build up exports as they see manufacturing as a vital industry for the country’s growth and employment, and reports suggest that the manufacturing sector is now making a sound recovery.
Source: www.bizpremises.co.za
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