General Motors South Africa November 2007 New Vehicle Sales

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GENERAL MOTORS SOUTH AFRICA (GMSA) sold a total of 6546 new vehicles in October comprising of 2660 passenger vehicles, 3587 Light Commercial Vehicles (LCV) and 299 trucks.

“The November new vehicle market continued its downward trend compared to 2006 recording a 13.8 percent drop. Passenger sales in particular decreased by some 15.7 percent with light commercial sales down by 13.9 percent with full year 2007 figures down some 4.4 percent on 2006, ” said Malcolm Gauld, Vice President Sales and Marketing for GMSA.

“General Motors South Africa is pleased with it’s share performance against the very competitive market backdrop. Sales of Opels totalled 3572, Chevrolet 1116 and Isuzu 1726 with the balance coming from the Saab, HUMMER and Cadillac brands, continued Gauld.

Central bank efforts to counter inflation are having a net effect of reducing private disposable income. The expected hike in interest rates later this week coupled to the impending holidays are expected to further soften new vehicle demand through year end,” concluded Gauld.