Reflecting on the new vehicle sales statistics for the month of March 2019, NAAMSA confirmed that aggregate domestic sales at 47 718 units had declined by 1 512 units or 3,1% from the 49 230 vehicles sold in March last year.
Export sales had again registered strong growth reflecting a substantial improvement of 7 135 vehicles or a gain of 23,7% compared to the 30 161 vehicles exported in March last year.
Prospects for domestic new vehicle sales, particularly the new car market, would continue to be affected by the depressed current macro-economic environment and enduring pressure on household disposable income.
An improved second half performance in terms of sales was expected in anticipation of an improved economic growth rate for the year compared to 2018 along with industry vehicle production levels which would continue to benefit from strong vehicle export sales.
Download the full NAAMSA press release below as well as the March 2019 Industry New Vehicle Sales.