New-vehicle sales up 12.5%, exports surge by 31.1%
March new-vehicle sales jumped by 12.5%, to 49 493 units, compared with the same month last year.
The new passenger car market led the charge, soaring by 25.3%, to 33 447 units, driven by robust consumer demand, lower inflation and a stable lending environment, says naamsa | The Automotive Business Council.
Sales of new bakkies, vans and minibuses failed to mirror the performance of the passenger-car market, dropping by 8.4%, to 13 328 units.
SA Inc was also not in the mood to procure new vehicles, with March medium-truck sales declining by 1.8 %, reaching 696 units, while heavy-truck and bus sales contracted by 0.5%, to 2 022 units.
New-vehicle export sales, however, finally delivered some good news, surging by 31.1% to reach 39 477 vehicles.
This marks the first export growth in ten months.
“The rebound in export sales is a testament to the resilience of South Africa’s automotive sector,” says naamsa CEO Mikel Mabasa.
“Despite ongoing global trade uncertainties, our industry remains steadfast, demonstrating its strength in navigating complex economic landscapes.”
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