A slow recovery for motor sales despite resumption in economic activity

(iStock)
(iStock)

Annual motor trade sales decreased by 11.3% year-on-year in August, Statistics South Africa announced on Thursday.

However, sales increased by 6.4% in August 2020 compared with July 2020.

This followed month-on-month changes of 3.0% in July 2020 and 58.8% in June 2020.

New vehicle sales are down 15.1% with fuel sales also down 20.7% as people continued to work from home in August.

The National Association of Automobile Manufacturers of South Africa recently called for government to cut taxes on new vehicle purchases to stimulate more sales.

In the three months ended in August, seasonally adjusted motor trade sales increased by 70.8% compared with the previous three months.

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