Companies / South Africa
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December 2006 | BMI ViewSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Car sales growth showed signs of slowing in H206 as household spending moderated in response to interest rate hikes, according to BMI's latest South Africa Automotives Report. In November 2006, vehicle sales rose 9.6% y-o-y to 55,364 units, but declined 4.2% compared to October. This brought year-to-date sales to 597,322 units, a rise of 15% y-o-y. With household spending on cars largely funded by borrowing, car sales are sensitive to monetary policy. Nevertheless, the commercial vehicle segment continues to go from strength to strength on the back of both public and private sector investment in infrastructure. The strongest growth was