New vehicle sales in South Africa maintained their climb in July, rising 6.2% compared with the previous month. But in a worrying sign of stalling global economic growth, exports declined slightly from June. On a year-on-year basis, sales and exports ...
New vehicle sales were 6.2% higher in July than they were in June, with 43,593 units sold during the month compared with 41,019 in the previous one, according to the monthly data released this week by the Automotive Business Council, also known as Naamsa.
New car sales are a key economic indicator — households, businesses and even government departments are buying new vehicles, which require the means, including access to credit, to do so. And the trend is taking place against the backdrop of rising interest rates, which makes the credit part of the equation more expensive.
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