Johannesburg - New car sales in South Africa increased 7% year-on-year (y/y)in March to 54 946 units, the National Association of Automobile Manufacturers (NAAMSA) said on Tuesday, adding that there could be a moderation in the rate of growth in sales this year.
"The near-term outlook for the automotive sector would be affected by upward new vehicle pricing pressure as a result of the weaker exchange rate and the April 2013 increase in CO2 vehicle emissions taxes on cars and certain categories of light commercials," NAAMSA said in a statement.