SA passenger vehicle sales for April 2011

Total new passenger vehicle sales (as reported by NAAMSA on 4th May) recorded a more subdued growth in April 2011, up only 11.7%y/y, which NAAMSA attributes to the large number of public holidays during the month. This is well down from the 23.5%y/y recorded in March and 31.1%y/y in February. Year-to-date, passenger vehicle sales are up a still impressive 22%y/y.

Light commercial vehicles, bakkies and minibuses reflected a reduction of 2.5%y/y in April, while sales of vehicles in the medium and heavy truck segments of the industry, showed an improvement in April of 8.2%y/y and 29.5%y/y, respectively. Total export sales amounted to 19 826 vehicles for April, continuing the good export performance achieved over the past number of months.

Concerns about the temporary availability of various Japanese car components and vehicle stocks, especially Nissan and Toyota, affected by the disaster in Japan earlier this year, may have contributed to some pre-emptive buying in March. April sales were negatively affected by the high number and configuration of the public holidays during the month. In addition, there are concerns regarding inflationary pressures and higher interest rates towards the end of 2011.

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