New vehicle sales surprised on the upside, beating expectations and displaying levels of growth that outperform most sectors of the economy.
However, the export sales number of 27,296 units reflected a decline of 3,920 vehicles, or 12,6%, compared to the 31,216 vehicles exported in June 2022.
While some segments show record year-on-year growth, the most popular segment for South Africans – new passenger vehicles – remained relatively stagnant. However, in addition to an easing in inflation by more than expected and an improvement in significantly less daytime load shedding during the month, another welcome development was the renewed collaboration between business and government to urgently tackle key current challenges relating to energy, infrastructure and transport logistics, as well as combating crime.
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