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Johannesburg - South Africa's total new vehicle sales
increased by 4.8% year-on-year to 56 110 units in March, the National
Association of Automobile Manufacturers (Naamsa) said on Tuesday.
But exports declined by 20.2% to 23 956 units in March
compared to the same month last year, with sales to Europe hit by the recession
and debt crisis in that region, Naamsa said in a statement.
"Factors that (will) continue to lend support to the
domestic market include the recent marginal improvement in the financial
position of consumers, relatively low interest rates, continuing improvement in
vehicle affordability in real terms," it said.
Sharp increases in energy and transport costs would however hit consumers’ disposable income in the months ahead, limiting sales growth in the sector to modest single-digit levels, Naamsa said.
