“Passenger vehicle sales continue to show strain with the highest year to date decline of 20.6%. Whilst the strain will continue for the duration of the year, we do not anticipate it to continue at current levels”.
General Comments on July 2016 NAAMSA sales:
- July 2016 sales remained flat with a slight decline of 0.14% compared to June 2016.
- Month on month passenger vehicle sales also remained flat with a slight decline of 0.25%, July compared to June 2016.
- Year on Year monthly comparison shows a decline in overall sales of 17.0%
- Passenger vehicles declined by 20.6% year on year
- Year on year monthly comparison shows an improvement in exports of 2.4%
General Comments on July 2016 Standard Bank passenger vehicles:
- The average contract term remained flat year on year.
- Even though the average deal size increased from R295 976 in July 2015 to R296 500 in July 2016. We are still seeing a shift towards the pre-owned/used vehicles. This trend is not likely to change in the short to medium term.
Comments on NAAMSA New Vehicle Sales Report – July 2016
Nicholas Nkosi – Head of Standard Bank Vehicle and Asset Finance, Retail Banking