More cars exported from SA than sold to squeezed locals

Business

More cars exported from SA than sold to squeezed locals

Volkswagen SA had a bumper month, shipping out 15,659 vehicles, but demand in SA continues to fall

David Furlonger

New-vehicle sales maintained their depressingly familiar downward path in August.

Demand for cars and commercial vehicles fell 5.1% compared with a year earlier, from 47,977 to 44,566. Cars, as so often this year, underperformed the overall vehicle market, retreating 7.6% from 31,456 to 29,075.

Ghana Msibi, head of WesBank’s motor business, described the figures, released on Monday by the department of trade and industry, as a “hammer blow” to hopes that the market decline could be slowing. With another fuel hike due this week, the immediate outlook is not about to improve for consumers and fleet buyers...

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