The new vehicle market bounced back during August after being unsettled by a barrage of impacts during July
Not only did sales show good growth over the same period last year, but August’s new vehicle sales were the second highest this year at 41,425 units, after March’s figure of 44,217. According to Naamsa/the Automotive Business Council, new vehicle sales were 24.6% up on August last year.
“To have this environment amplified by industry confidence will help to continue to build momentum in the market’s recovery, preserving jobs and fulfilling demand.”“Between the challenges of the pandemic, microchip shortages affecting international production — and therefore import supply to SA — and the prevailing market conditions that have simply hampered the free supply of certain models, the new vehicle market is poised to capture growth opportunities while trying to keep up.
“This remains good news for dealers in support of their viability across new and pre-owned showroom floors. Consumers will also benefit from better used vehicle stock once the replacement cycle activity kicks in, due to those low mileage vehicles that have been used less during lockdown.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Market data — August 31 2021Market data including bonds and fuel prices
Read more »
Daily Lotto results: Tuesday, 31 August 2021Tonight's Daily Lotto Jackpot is R500 000! Here are your winning Daily Lotto results for Tuesday 31 August, brought to you by The Citizen.
Read more »
PowerBall results: Tuesday, 31 August 2021An estimated R50 million jackpot is up for grabs. Here are your PowerBall and PowerBall Plus results brought to you by The Citizen.
Read more »
Business Matters | Business Insurance | 31 August 2021Billions in property damage and thousands of jobs hanging in the balance after the rampant riots that recently took place in South Africa. Join Devan Murugan as he chats to South African Insurance Association CEO Viviene Pearson about whether businesses are sufficiently insured to bounce back.
Read more »
Manufacturing activity rebounds in August after huge dropThe move in the Absa PMI to a level back above the neutral level of 50 index points is a welcome sign that factory activity is picking up again
Read more »
Manufacturing activity rebounds in August after huge dropThe move in the Absa PMI to a level back above the neutral level of 50 index points is a welcome sign that factory activity is picking up again
Read more »