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SA's demand for new cars growing - manufacturers
9th June, 2006
In a statement on Friday the association said that May aggregate new vehicle sales at 52 534 units had registered an improvement of 6 671 vehicles or 14.5% compared to the 45 863 new vehicles sold during the corresponding month last year.
Sales in all the segments had recorded good gains compared to the same month last year.
Naamsa said that despite stock shortages experienced by some motor vehicle manufacturers, May represented the strongest May month sales performance on record and reflected an improvement of 4 986 new cars or 16.6% compared to the 30 085 new cars sold during May, 2005.
"Supported by the competitive domestic environment and new model introductions, the year to date new car market, in terms of new car sales reported through Naamsa, was 18.9% ahead of the corresponding five months last year. Taking account of the 4 472 new cars retailed - but not reported in detail through Naamsa – the May, 2006 new car market had reached a total sales figure of 39 543 units."
Sales of new light commercial vehicle, bakkies and minibuses recorded an improvement of 1 334 vehicles or 10.0% compared to the 13 307 unit sales during the corresponding month last year after some consolidation in April 2006, mainly due to the number of public holidays restraining the market size during that month. On a year to date basis, light commercial vehicle sales remained 17.7% ahead of the corresponding five months of 2005.
Strong gains in the truck sales
Sales of vehicles in the medium and heavy truck segments of the industry had registered further strong gains compared to the corresponding month last year, Naamsa noted.
May sales of medium commercial vehicles at 1 311 units and sales of heavy trucks and buses at 1 511 units reflected an improvement of 135 units or 11.5%, in the case of medium commercials, and 216 units or 16.7%, in the case of heavy trucks and buses – compared to the corresponding month last year.
"On a year to date basis, medium commercial vehicles were 20.9% ahead of the corresponding five months of 2005, while the heavy trucks and buses were 22.6% ahead over the same corresponding period. The medium and heavy segments would continue to benefit from strong fixed investment and infrastructural development.
Aggregate vehicle export sales for the first four months of 2006 at 53 372 vehicles had registered an improvement of 21 080 units or 65.3% compared to the 32 292 export sales during the first four months of 2005.
The significant growth rate is in line with the projected doubling of export sales between 2005 and 2007 and would contribute to projected record automotive industry production for the year, 2006.
According to Naamsa, demand for new cars and commercial vehicles remains "fundamentally strong".
A favourable macro environment, strong business and consumer confidence, growing real disposable income, low interest rates, substantially enhanced new vehicle affordability and the continuing introduction of technologically advanced, fuel efficient models – would continue to lend support to the market, Naamsa has said.
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