Wesbank reports continued growth momentum within the vehicle industry

“While the majority of sales during June were not severely impacted by Covid-19 restrictions, we should expect a returned level of hesitancy during July,” says Lebogang Gaoaketse, head of marketing and communications at WesBank.

“Both business and consumer confidence are certainly building their own momentum despite the current environment, which is providing continued energy into the slow recovery of the market.

“June sales registered 38 030 new vehicles compared to the 38 320 in May and 31 643 in June last year. “A further consideration is the more sombre fact that last month’s sales were 17.2% down on June 2019 sales.”

Passenger car sales accounted for 24, 482 units, 28% up year-on-year and marginally higher than May sales.

The rental market took 2 565 units.

Light commercial vehicle (LCV) sales were 5.9% down, but up 9.6% year-on-year, and dealer sales were down 5.1%.

Although stock shortages still exist, Gaoaketse considers current sales levels reassuring.

Source: MotorPress/Wesbank

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