Naamsa's New Vehicle Sales report shows that consumers are pulling back on buying cars as passenger sales record a year-on-year decline in July 2023.
The National Association of Automobile Manufacturers of South Africa’s New Vehicle Sales stats for July 2023 show a muted year-on-year increase of only 1.3% as a result of the decline in passenger car sales due to a half-year of shrinking disposable income and economic hardships.
This is a telling sign that South Africans have pulled back from buying new cars as they continue to find ways to recover from mounting financial pressures. Despite the negatives seen in the domestic numbers, there were some notable improvements in other sectors.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Vehicle exports surge in July, but local sales mutedNaamsa reports a 47.3% jump in shipments, but local sales are up just 1.3% from a year earlier
Read more »
New vehicle sales showing improvement - SABC NewsNew vehicle sales in June increased by 14 percent amid the current challenging economic conditions.
Read more »
NEW: Mbappe 'makes decision' on Real clause in new PSG offer | KickOffNEW❗ Kylian Mbappe has now reportedly responded to Paris Saint-Germain's latest extension offer, one that would guarantee him his desired move to Real Madrid. More here! ▶️
Read more »
Closing July on a high[MARKET WATCHER] Makwe Masilela of Makwe Fund Managers discusses the day’s market moves as we end the month in the green, how investors are viewing SA risk, growth forecasts, and trading updates out of Telkom and MTN. Markets jmoyaha_
Read more »