NOVEMBER CAR SALES BEST POST-LOCKDOWN FIGURES

NEW VEHICLE sales recorded their best post-lockdown performance in November, indicating a slow rehabilitation of the local motor industry. The overall market was down 30.6 percent year-to-date, but November’s sales performance of 39 315 units indicated resurgent consumer demand and relief for motor retailers as volumes continued to increase, National Association of Automobile Manufacturers of South Africa statistics showed. WesBank Vehicle and Asset Finance Head of Marketing and Communication Lebogang Gaoaketse said November sales doubled-up the performance increase over October (down 25.4 percent), to close 12 percent down on November last year. Overall vehicle sales continued to increase for the fifth consecutive month, although volume growth was only 563 units. The increase was mirrored by consumer demand growth as measured by WesBank motor finance applications, he said. “We have recovered to about 70 percent of preCovid-19 volumes,” he said. The National Automobile Dealers Association said while retail sales figures remained muted in November, the general feeling among dealers was that they were slightly more hopeful than they were a few months ago.