SA car sales: 2016 ends on ‘a weak note’

2017-02-08 06:02

The December 2016 new passenger car market and light commercial vehicle market reflected a year-on-year drop of -14.0% in the case of cars and -17.8% for light commercial vehicles.

For the third year in succession, new vehicle sales during 2016 in South Africa recorded a year-on-year decline.

The slowdown in the domestic economy, above average new vehicle inflationary pressures, increases in interest rates, pressure on consumers’ and household disposable income and low levels of consumer confidence had contributed to a double digit decline in annual domestic sales volumes.

Aggregate sales during 2016 fell by 11.4% in volume terms to 547 442 units compared to the sales total of 617 648 in 2015.

Naamsa said: "Industry trading conditions had remained intensely competitive characterised by pressure on dealer margins." 2016 Vehicle exports represented the highest annual Industry export figure on record and total vehicle exports at 344 822 units were up on the 333 847 vehicles exported in 2015.”


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