No Sign Of A Lift In Vehicle Sales

The slump in South Africa's new vehicle sales continues as total purchases for August fell 26.2% compared to the same period in 2008. Data from the National Association of Automobile Manufacturers of South Africa (NAAMSA) show that the heavy truck segment was the worst hit, with a 51.7% decline in sales year-on-year (y-o-y), while sales of medium commercial vehicles were 40.7% lower than the previous year. NAAMSA attributes the contraction to a lack of investment by businesses, as well as the difficulties faced in securing vehicle loans. Passenger car sales were down 26%, while light commercial vehicle sales fell

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