Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

South Africa’s aggregate new vehicle sales were reported at 41,425 units, 24pc higher than the year-ago. Exports declined by 15pc to 19,446 units in August from a year ago. 

 

Domestic sales of light commercial vehicles were at 11,749 units in August 2021, 3.6pc higher than a year ago. Sales of medium and heavy truck segment reflected a weak performance at 710 units and 1,000 units, respectively, both, down by around 7pc from a year ago. 

 

Level 3 lockdown regulations and the improvement to civil stability supported the new vehicle market which gradually supported the growth during the month. The positive factors to stimulate the new vehicle demand include the positive macro-economic outlook, subdued consumer price inflation, and interest rates to remain at historically low levels for the foreseeable future.

 

The industry accounts for 18.7% of the country’s manufacturing output. 

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