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South African vehicles sales fall 19.7% in July
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New vehicle sales in South Africa plunged by19,7% compared to the corresponding month last year, according to data release by the National Association of Automobile Manufacturers of South Africa (Naamsa). "Despite the fact that July was traditionally a relatively strong month from a seasonal perspective, the daily sales rate during July 2008 continued to hover around the lowest levels experienced over the past four years" Naamsa stated. The fall is attributed to the cumulative impact of interest rate rises, inflationary pressures, high levels of personal debt and the slowdown in economic activity.(AD)
| 04/08/2008 |
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