Vehicle sales in South Africa increased markedly from last year in June, data released by the National Association of Automobile Manufacturers of South Africa (NAAMSA) showed Tuesday.
The number of vehicles sold in the domestic market grew 15.6 percent year-on-year to 51,891 units in June. In the export market, 27,061 South African vehicles were sold during the month, up 7 percent compared to the same month last year.
Historically low interest rates, continuing improvement in vehicle affordability, improving demand for credit and pre-emptive buying by consumers in response to the weaker exchange rate are the primary factors contributing to the the strong performance of the automobile industry, despite indications of further slowing in the domestic economy, the agency said.
New car sales climbed 14.3 percent annually to to 35,918 units in June. The sharp increase in sales was supported by new model introductions, data showed.
Sales of light commercial vehicles, mini-trucks and mini-buses jumped 22.1 percent year-on-year to 13,421 units in June. Sales of medium trucks and heavy trucks advanced 11.7 percent and and 1.4 percent respectively during the month.
by RTT Staff Writer
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