GENERAL MOTORS SOUTH AFRICA (GMSA) reported a total of 6484 new vehicles in February in a new vehicle market which continued to slow compared to the same period last year.
“February new vehicle sales figures evidence concern over the effect the ever-increasing price of fuel will have on inflation, interest rates and ultimately, disposable income. With the weakening in exchange rates, these pressures too are likely to find their way into the new vehicle market in the short term,” said Malcolm Gauld, Vice President of Sales and Marketing.
“Notwithstanding these pressures, GMSA recorded one it’s best February sales months, taking second spot in the manufacturers’ rankings for the first time in many years. We remain optimistic that the back half of the year will show some upside as spending on infrastructure and 2010 projects continue,” concluded Gauld.