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South Africa's New Vehicle Sales Increase In April

South Africa's vehicle sales increased 10.5 percent year-on-year in April to 42,617 units, the National Association of Automobile Manufacturers of South Africa (NAAMSA) said Thursday.

During the first four months of the year, total sales rose 6.9 percent. NAAMSA said that the outlook for 2012 remained one of modest growth.

Vehicle exports to Europe remained under pressure as a result of the recession and debt crisis in the Eurozone. Therefore, the industry vehicle export projections has been revised downwards and are now expected to reach about 270,000 vehicles in 2102, down from originally projected 300,000 units.

Exports of South African produced motor vehicles fell 11 percent annually. Exports are expected to improve modestly over the rest of the year.

During the month, new car sales grew 12.1 percent to 29,517 units. The year-on-year result is the best in the past six months. In the first four months, new car sales rose 9.1 percent.

by RTTNews Staff Writer

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