Focus2move, South Africa Car Sales – November 2015
Focus2Move
South Africa car sales fell down in Q3 two thousand fifteen with September -9%.
South Africa car sales fell down in Q3 two thousand fifteen with September -9% while Export sales of fresh motor vehicles had however achieved a fresh milestone reaching a record month. Future outlook is negative.
Economic Environment
In Q2, South Africa’s economy recorded the very first spasm in over a year with GDP pulling down 1.3% on a sequential basis, thus reversing the previous quarter’s expansion. The disappointing result reflected another double-digit decrease in agriculture, which was particularly affected by adverse weather conditions.
Moreover, in Q2, the mining sector swung to spasm, which is partly explained through lower commodity prices and electric current supply cuts.
Latest data point to a pickup of the economy in Q3. Manufacturing expanded in July following three consecutive contractions and the PMI improved in August. This month, the rand continued the depreciating trend that has been in place for over three years.
Concerns around China’s economic outlook paired with falling commodity prices are pressuring the currency.
Market Outlook
Following a bashful begin of the year the outlook of he South African fresh vehicles market is worsening. Indeed very first half had been closed with sales down 1.8% but according to data released by the Department Trade and Industry of South African, in the third quarter the environment deteriorated with July sales down 6.2%, August down 7.2% an September 9.8%.
The last was the seventh year on year fall in a row.
According to the statement released by NAAMSA, the Federation of South African Car Manufacturers, the current conditions in the automotive industry reflected a further weakening in domestic sales contrasted by record vehicle exports. Given the present difficult economic environment in South Africa, this trend was likely to proceed over the medium term.
The latest figures displayed that the recession in domestic fresh vehicle sales had accelerated further during September, 2015. Export sales of fresh motor vehicles had however achieved a fresh milestone reaching a record monthly total of thirty five 181 vehicles.
Looking forward, it was anticipated that domestic fresh car and commercial vehicle sales would remain under pressure. The slight recovery in latest consumer confidence and the Purchasing Managers’ Index provided some hope of stabilisation in sales around current monthly levels. For the year as a entire, industry fresh car and commercial vehicle sales projections were likely to be revised down.
Below, you can sort our interactive tables to see data regarding Brands, Groups and Models. Please bear in mind that sales data are subject to adjustments as sources will update their information. This report is updated at the publishing date and will not be modified while the next on this subject will always have the year to date data updated.
Focus2move, South Africa Car Sales – November two thousand fifteen
Focus2Move
South Africa car sales fell down in Q3 two thousand fifteen with September -9%.
South Africa car sales fell down in Q3 two thousand fifteen with September -9% while Export sales of fresh motor vehicles had however achieved a fresh milestone reaching a record month. Future outlook is negative.
Economic Environment
In Q2, South Africa’s economy recorded the very first spasm in over a year with GDP ripping off 1.3% on a sequential basis, thus reversing the previous quarter’s expansion. The disappointing result reflected another double-digit decrease in agriculture, which was particularly affected by adverse weather conditions.
Moreover, in Q2, the mining sector swung to spasm, which is partly explained through lower commodity prices and violet wand supply cuts.
Latest data point to a pickup of the economy in Q3. Manufacturing expanded in July following three consecutive contractions and the PMI improved in August. This month, the rand continued the depreciating trend that has been in place for over three years.
Concerns around China’s economic outlook paired with falling commodity prices are pressuring the currency.
Market Outlook
Following a timid commence of the year the outlook of he South African fresh vehicles market is worsening. Indeed very first half had been closed with sales down 1.8% but according to data released by the Department Trade and Industry of South African, in the third quarter the environment deteriorated with July sales down 6.2%, August down 7.2% an September 9.8%.
The last was the seventh year on year fall in a row.
According to the statement released by NAAMSA, the Federation of South African Car Manufacturers, the current conditions in the automotive industry reflected a further weakening in domestic sales contrasted by record vehicle exports. Given the present difficult economic environment in South Africa, this trend was likely to proceed over the medium term.
The latest figures displayed that the recession in domestic fresh vehicle sales had accelerated further during September, 2015. Export sales of fresh motor vehicles had however achieved a fresh milestone reaching a record monthly total of thirty five 181 vehicles.
Looking forward, it was anticipated that domestic fresh car and commercial vehicle sales would remain under pressure. The slight recovery in latest consumer confidence and the Purchasing Managers’ Index provided some hope of stabilisation in sales around current monthly levels. For the year as a entire, industry fresh car and commercial vehicle sales projections were likely to be revised down.
Below, you can sort our interactive tables to see data regarding Brands, Groups and Models. Please bear in mind that sales data are subject to adjustments as sources will update their information. This report is updated at the publishing date and will not be modified while the next on this subject will always have the year to date data updated.