New car sales in South Africa rose almost 16 percent (15.9 percent) in 2011 to 571 425 units, the Pretoria-based National Association of Automobile Manufacturers of South on Tuesday said. In December, the number of units sold rose 11 percent.
But De Kock — Executive Head of Sales and Marketing at WesBank — warns that 2012 might not be as fruitful as 2011, as car prices and interest rates are expected to increase in 2012.
“Looking forward we expect moderate growth on these figures in 2012 as a result of price increases feeding through and the likelihood of a rise in interest rates. However, if market sales in 2012 match those seen last year, the industry should be reasonably happy.”
“Despite the fact that detailed sales of Mercedes-Benz vehicles were not reported during December – new vehicle sales ended the year 2011 on a relatively buoyant note,” NAAMSA said.
However, Naamsa said 2011 sales were well below the record total domestic market of 714 315 vehicles in 2006.
Note: Daimler Ag., based in Stuttgart, Germany, ordered the unit to stop providing figures as a commission in Europe investigates allegations of anti-competitive behavior in Europe, it said.