South Africa: Expected Price Increases Keep New Vehicle Sales Buoyant

Demand for new vehicle sales remained buoyant in November 2012, according to figures released today by the National Association of Automobile Manufacturers of South Africa (NAAMSA), which revealed a 7.3% year-on-year increase in total industry vehicle sales.

This is according to Chris de Kock, executive head of Sales and Marketing at WesBank, who says the prospect of increasing vehicle prices in the new year, as a result of the weakening Rand, is helping to drive year-end sales. "The low vehicle inflation environment over the last three years is coming to an end and prices have already started to increase, as evidenced by WesBank book data showing the average transaction value of new car purchases increased last month by 3.25% on average to R222 000.

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