South Africa's new vehicle sales dropped 43.1% year-on-year in April, after a 30.3% fall in March, the National Association of Automobile Manufacturers of South Africa or NAAMSA said Tuesday.
New vehicle sales declined to 24,063 units in April from 42,325 units in the corresponding month last year.
In April, new car sales dropped 37.5% annually to 15,071 units. Sales of new light commercial vehicles, bakkies and minibuses slipped 49.6%, while sales of medium and heavy trucks decreased 45.9% and 60.9% respectively.
Meanwhile, exports of new vehicles slipped 49.1% in April to 11,479 units from last year.
The NAAMSA said the domestic sales of new vehicles were expected to remain under pressure in the short to medium term. However, during the second half of the year, it expects an improvement in the domestic sales, driven by lower interest rates and an increase in government spending.
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