General Motors South Africa October 2007 New Vehicle Sales

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GENERAL MOTORS SOUTH AFRICA (GMSA) sold a total of 7121 new vehicles in October comprising of 2961 passenger vehicles, 3889 Light Commercial Vehicles (LCV) and 271 trucks.

“We are pleased with our performance in the market recording a passenger share of 8.6 percent and a light commercial vehicle share of 24.1 percent. The Chevrolet brand, in particular, had an excellent month selling some 1417 units including 353 Captivas. The Opel Corsa Utility continues to dominate the sub one ton segment with just under 2100 units sold, making it the market leader for 30 consecutive months and contributing to Opel sales of 3575 units. We expect further growth through year end from our soon-to-be-launched new Opel Corsa and the exciting new Isuzu KB range,” said Malcolm Gauld, Vice President Sales and Marketing for GMSA.

“The October 2007 market showed signs of recovery compared to the previous month by recording growth of 8.8 percent, underpinned by strong non-dealer business. The year to date through October trend, however, remains weaker than 2006 levels and is 3.5 percent down. The October 2006 market was stronger than October 2007 by some 5.9 percent. In fact, October is the 9th consecutive month of passenger sales being lower than the same month last year and the 3rd straight month of decreased light commercial vehicle sales.

The industry remains very competitive in the face of reduced volumes as consumers feel the effects of the 7th interest rate hike this year. On a positive note, several recent new model introductions, coupled to the competitive trading environment means that now is an excellent time for consumers to buy a new motor vehicle,” concluded Gauld.