New Vehicle Sales in South Africa continued to decline in April. Data released by the National Association of Automobile Manufacturers (NAAMSA) shows new vehicle sales have dropped 9.2 percent year-on-year. Interestingly, the average “deal value” is said to have increased by around 11.8 percent over the last year, reflecting the steep increase in new car prices. This, coupled with rising interest rates and fuel costs has caused many consumers to go to the used car market instead.
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One Internet Minute | Cannon Asset Managers research