New vehicle sales in South Africa up 18.9 percent in October image

New vehicle sales in South Africa grew 18.9 percent in October from a year earlier the National Association of Automobile Manufacturers of South Africa said.

Naamsa noted “encouraging gains in all segments”, with 8309 more vehicles sold in 2011 compared to the same month in the previous year. However, the association noted that new vehicle sales growth slowed from 30 percent in September, when a series of strikes in the year-earlier period boosted the increase.

October passenger car sales were up 19.8 percent, at 36 826 units, with Volkswagen’s homegrown Polo Vivo the country’s best-seller in this market, at 2 443 units.

In addition, new light commercial vehicles, bakkies and minibuses gained 15.6 percent year to date in October to 12.994 from 11.240 a year ago.

Sales of medium commercial vehicles rose 31.6 percent to 829 units, while heavy trucks and buses grew 19.9% to 1,689 units.

“Industry sales figures over the past few months had exceeded expectations. The new car market for 2011 was now expected to show an improvement of between 16% and 18%, in volume terms, on the 2010 figures – supported by, amongst other things, numerous new model introductions,” said NAAMSA.

“The two things that influence our market are interest rates and job losses – both of them look positive at the moment.”

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