It was another difficult month for the country's new vehicle market with aggregate and new vehicle sales reflecting further and accelerated declines.
According to August figures released today by industry association, Naamsa, aggregate new vehicle sales were down 8.2% year on year while new passenger car sales declined by 7.8% compared with August last year.
Sales of light delivery and medium and heavy vehicle also recorded further losses.
Naamsa spokesperson, Dr Norman Lamprecht, said "trading conditions in the new vehicle market remain challenging due to the constrained economic climate as well as the impact of the rising cost of living on consumer sentiment and business confidence."
"At this stage a decline in the new vehicle market of around three percent is anticipated for 2015 compared to the level of last year," he said.
Domestic sales of new light commercial vehicles, bakkies and mini buses during August, 2015 at 13 781 units reflected a fairly substantial decline of 1 159 units or 7.8% compared to the 14 940 light commercial vehicles sold during the corresponding month last year.
Sales of vehicles in the investment dependent medium and heavy truck segments of the Industry had registered double digit decreases.
However, the light at the end of the proverbial tunnel lies in the vehicle export market.
Lamprecht said exports for the year to date are more than 61 000 units or 37.3% above the level of the corresponding period last year.
"Assuming further improvement in the economic climate of the industry's top export destinations the (automotive) industry is well on track to achieve around 330 000 units this year," Lamprecht said.
Naama said in it's latest report that "automotive industry vehicle production remained on a relatively firm footing and the higher new vehicle export sales would continue to support the industry’s manufacturing output and contribute positively to South Africa’s balance of payments."
