Price hikes drive car sales down
Higher car prices and interest rates caused car sales in March to dip 4percent from the same month last year. National Association of Automobile Manufacturers of South Africa (Naamsa) said that 36041 new cars were sold last month.
But businesses bought more bakkies, delivery vans and minibuses. Light commercial sales were at 18619 units, up 16percent from March last year.
"The continued slowdown in consumer spending can be attributed to pressure on private buyers to curb spending and also to the January new car price increases," said Roel de Vries, sales and marketing director of Nissan South Africa.