Bumpy ride ahead for new auto sales

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Cape Town – After auto sales declined despite the Easter holidays this year dropping into the preceding month new Malaysia cheap cars for sale may actually be heading for a bumpy ride for the remainder of the year.

Figures released yesterday revealed that new auto sales dropped last month by 13.2 percent to 26 077 units from the 30 026 new automobiles sold in April last year.

Disappointing

Jammine said automobile sales were anticipated to enhance after the sudden decline in March, which had two fewer selling days due to the Easter public holidays.

He said the fact that auto sales hadn’t enhanced told him “ striving is being taken by consumers, especially -ticket items”.

Rudolf Mahoney, the head of communicating and brand at WesBank, anticipates vehicle sales to continue to fall in the second half of the year for the remaining year and sales.

We ’re in for an extremely bumpy ride.

He said WesBank vehicle financing program data also revealed a shift in consumer demand.

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Mahoney said there were many variables consumers cannot control when purchasing a vehicle, including the price of insurance, fuel and interest rates, which had driven many into the used car marketplace.

An economist at Nedbank, Isaac Matshego, said the prognosis for national vehicle sales this year were hurt by rising auto prices, growing inflation, higher interest rates and muted increase of disposable incomes.

Matshego said the latest vehicle sales amounts were not inconsistent with recent indicators that pointed towards muted demand increase for big-ticket items on the rear of company confidence and low consumer, increasing inflation and tight giving standards.

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