The new vehicle sales have dropped by 13 percent in February after falling to a similar margin in January last year.
Not only are new car sales important economic indicator. It also has a significant job creation potential.
It seems that consumers are staying away from buying new cars, with the economy gradually getting back to the swing of things.
Buying a car in South Africa is arguably the second most biggest thing that many of our people make in their investment destination, after buying property.
It is not an easy decision that people jump into, and under a very difficult economic climate. We have seen a slow down and hesitancy, particularly individual buyers.
On the other hand the are major customers like government and also rental companies. And those customers also have not taken the opportunity to refleet and also renew, new vehicles. So that also has had a huge impact to the numbers in the statistics.
eNCA reporter Rofhiwa Madzena filed this report Courtesy of #Dstv403
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