NAAMSA commented that the latest vehicle sales reflected a welcome surprise on the upside with export sales continuing to perform exceptionally well. The declining trend in the new vehicle market since the beginning of the year came to a halt in April 2019.
Export sales had again registered strong growth reflecting a substantial improvement of 11 571 vehicles or a gain of 53,8% compared to the 21 519 vehicles exported in April last year.
Demand for domestic new vehicles, particularly the new car market, would continue to remain under pressure in the coming months affected by numerous constraining factors. However, constructive political and economic reforms after the country’s general election on 8 May 2019 could see an improved second half performance in terms of new vehicle sales.
The upward momentum on the export remains strong and industry vehicle production levels would continue to benefit from strong vehicle export sales.
Download the full NAAMSA press release below as well as the April 2019 Industry New Vehicle Sales.