“New car sales continue to come under pressure with new passenger vehicles showing a 14% decline year on year. The current pressure on new car sales is likely to persist in the short-medium term driven by above inflation new car prices and consumers experiencing affordability pressures”.
General Comments on September 2016 NAAMSA sales:
- Month on month improvement in overall sales of 2.8%, September compared to August 2016.
- Passenger vehicles also improved month on month by 5.3%
- Year on Year monthly comparison shows a decline in overall sales of 14.3%
- Passenger vehicles declined by 14.4% year on year
- Year on year monthly comparison shows a decline in exports of 6.5%
General Comments on September 2016 Standard Bank passenger vehicles:
- The average contract term remained flat year on year.
- The average deal size increased by 1.5% year on year even though 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 – September 2016
Nicholas Nkosi – Head of Standard Bank Vehicle and Asset Finance, Retail Banking