The National Association of Automobile Manufacturers of South Africa (NAAMSA) reports that vehicle sales in South Africa during the month of July increased by 7.6% over last year to stand at 34,077 units.
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NAAMSA said that the improving trend is due to a recent interest rate cut, expectations of further rate reductions, renewed demand from the car rental sector and improved affordability on the back of price restraint and special incentive packages offered by manufacturers.
NAAMSA also said that new car sales during July were at their highest level in six and a half years – at 22,988 units some 8.6% ahead of last year.
Sales of new light commercial vehicles, bakkies and minibuses at 9,726 units during July were 4.7% ahead of the same month last year.
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