Vehicle sales and buying a new vehicle

“New passenger vehicles showed signs of improvement with a growth of 2.1% year on year, despite reduced contribution from the rental industry.  Export sales grew in line with expectations with a growth of 7.8% year on year. The current pressure on new car sales is likely to persist in the short-medium term driven by exchange rate volatility which is likely to impact new car prices”.

General Comments on March 2017 NAAMSA sales:

  • Aggregate new vehicle sales increased month on month by 0.9%
  • Passenger vehicles declined by 1.2% month on month
  • Overall sales grew by 2.1% year on year
  • Passenger vehicles increased by 2.1% year on year
  • Year on year monthly comparison shows an increase of 7.8% in exports

General Comments on March 2017 Standard Bank passenger vehicles:

  • The average contract term remained flat year on year
  • The average deal size decreased by 11.3% year on year. The recent trend towards the pre-owned/used vehicles continues and is not likely to change in the short to medium term

Comments on NAAMSA New Vehicle Sales Report – March 2017

Nicholas Nkosi – Head of Standard Bank Vehicle and Asset Finance, Retail & Business Banking

Be Sociable, Share!

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

clear formSubmit