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New vehicle sales accelerate

Aug 02 2012 11:14 Reuters

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Johannesburg - South Africa’s total new car sales increased by 18.3% year-on-year to 54 067 units in July, the National Association of Automobile Manufacturers (Naamsa) reported on Thursday.

The daily selling rate hit a fresh five-year high and exports rose 11.6% in the month.

Naamsa said the industry remains on track for projected growth of 10%, adding a recent central bank interest rate cut would also help underpin sales.


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