The South African vehicle industry continued to show signs of growth in the month of August 2012. Naamsa reported that overall vehicle sales increased by 9.4% when compared with the same period last year. Sales totalled 56 253 units compared to the 51 409 units sold in 2011.
The first eight months of 2012 reflected an 11.3% increase in sales compared to the same period last year. In August, dealership sales accounted for 81% of sales while the rental industry accounted for 11.5% of sales. Corporate fleets accounted for 3.9% of sales and government claimed 3.5%.
Low interest rates and improving demand for credit by households and businesses continued to support domestic sales. Naamsa however predicts a less promising outcome for 2013. “Looking ahead to 2013, increasing inflationary pressures on the back of expected higher fuel and food prices and the impact of rand weakness on new vehicle pricing were likely to result in a more difficult trading environment and more subdued growth in vehicle sales,” Naamsa said.
The top three selling vehicles for the month of August 2012 include the VW Polo Vivo in first place with 3 714 sales. The Toyota Hilux claims second place with 2 942 units sold while the VW Polo sits pretty in third place with 2 355 units in the bag. The top selling vehicle list excludes sales by Mercedes-Benz, Hyundai and Kia.
News Source: IOL Motoring
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