Global auto giants are looking to crack the African market, which while dominated by second-hand cars, promises rapid growth as trade tensions threaten sales elsewhere.
Locally, the declining trend in the new vehicle market since the beginning of the year continued in March 2019, reports the National Association of Automobile Manufacturers of South Africa (Naamsa).
Aggregate domestic sales were 47 718 units, a decrease of 1512 units (-3.1%) compared to the 49 230 vehicles sold in March 2018. Export sales had again registered strong growth reflecting a substantial improvement of 7135 vehicles or a gain of 23.7%, compared to the 30 161 vehicles exported in March last year.
Overall, out of the total reported Industry sales of 47 718 vehicles, an estimated 41 235 units or 86.4% represented dealer sales, an estimated 6.6% represented the vehicle rental Industry, 4.3% to government and 2.7% industry corporate fleets.