"Many dealer principals within the Nada network have commented on noticeably slower foot traffic on showroom floors. This is clearly a sign of economic pressures on household budgets," he said.
However light commercial vehicle sales continued to buoy the market with figures up 1.9% to 14,994 units. Medium and heavy commercial vehicles also showed growth of 6.2% and 5.3% respectively, albeit in small volumes of 775 and 474 units. Extra heavies and buses declined 3.6% and 12.9% respectively.
Msibi remains optimistic for the market’s performance in the second half. “While sobering, the market picture is not all doom and gloom, nor unexpected. We forecast first-half sales to be slow with a better-performing second half,” said Msibi.
Car Car Latest News, Car Car Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla boom lifts Norway's electric car sales to 58% market shareAlmost 60% of all new cars sold in Norway in March were fully electric, the Norwegian Road Federation (NRF) said on Monday.
Source: TimesLIVE - 🏆 28. / 59 Read more »