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Motor trade sales decreased by 10.4% year-on-year in March, with the largest negative contributions coming from new vehicle sales at -23.7%.
According to Statistics South Africa's key findings, workshop income declined by -14.3%, while used vehicle sales were down -9.3% and accessory sales down -9.9%.
Stats SA says motor trade sales decreased by 2.3% in the first quarter of 2024 compared with the first quarter of last year, with the main negative contributors being new vehicle sales.
"Seasonally adjusted motor trade sales decreased by 7% in March 2024, compared with February 2024. This followed month-on-month changes of -0,1% in February 2024 and -2,8% in January 2024."
Meanwhile, Stats SA said motor trade sales decreased by 2.3% in the first quarter of 2024 compared with the first quarter of 2023, with the main negative contributor being new vehicle sales which were down -8.6%.
"Seasonally adjusted motor trade sales decreased by 2.9% in the first quarter of 2024 compared with the fourth quarter of 2023," Stats SA said.
#Motor trade sales decreased by 2,9% in Q1:2024 compared with Q4:2023, led by a decline in new vehicle sales.
— Stats SA (@StatsSA) May 16, 2024
Read more here: https://t.co/TggyGFLzoW
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