The National Association of Automobile Manufacturers (Naamsa) predicts an increase of 6.5% in sales of new cars for 2010 as global credit markets begin to thaw. The local economy has officially moved out of recession but activity is still slow as households and businesses continue to spend carefully.
Car dealers, manufacturers and motor industry executives in South Africa anticipate the release of the complete sales statistics for 2009 later today. Figures released for November 2009 indicate a 27% decline in new car sales compared to November 2008. December is usually the slowest car sales month of the year and the numbers released today are likely to indicated further decline.
Car sales figures for 2009 have caused a stir internationally. The US motor industry received a shrill wakeup call when total sales were the lowest since the 1983 recession and China officially took over as the largest auto market. Asian car makers claimed 47.4% of total market share last year, up 3% from 2008.