New vehicle sales continue to drop

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New vehicle sales have continued to decline in March, sliding by 3.1% year-on-year to just over 47 000 units.

This follows February’s 5.3% year-on-year dip and brings the first quarter’s loss to – 4.8%.

The passenger vehicle category, which accounts for the majority of industry vehicle sales, was again predominantly responsible for the adverse outcome.

Passenger sales dropped by 5.6% in March, following February’s marked 11.5% decline.

Export sales remained robust, lifting by a notable 23.7% in March, versus February’s 22.3% rise, with the National Association of Automobile Manufacturers of SA saying the momentum of vehicle exports over the course of 2019 should increase further.

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