New passenger car sales are down 34.8% and bakkies have declined 42.6% year to date in SA
09 July 2020 - 05:06Covid-19 has caused a bigger one-off shock in car sales than the global financial crisis. Picture: REUTERS
“This is a bigger one-off shock than witnessed in the two years of the global financial crisis,” said Calum MacRae, automotive analyst at GlobalData. “GlobalData’s forecast sees Q2 [quarter two] about 34% down on last year’s pace and way below the 2008 Q4 low point reached during the last big global downturn,” MacRae said.
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