NAAMSA says new vehicle sales up 10.5% in July

Growth in South Africa’s new vehicle sales slowed to 10.5 percent year-on-year in July at 45,703 units, the National Association of Automobile Manufacturers (NAAMSA) said on Tuesday.

When sales from Associated Motor Holdings and Amalgamated Automobile Distributors – which report separately – are stripped out, sales went up by 11.1 percent to 39,472 vehicles compared with July last year, NAAMSA said in a statement.

“Whilst sales in all segments had registered an improvement on the corresponding month last year, there were clear signs of slower underlying momentum in demand for new cars,” it added. – Reuters