Naamsa vehicle sales report for August confirms pressure on domestic passenger vehicle sales

“The domestic passenger vehicle sales will continue to show pressure for the duration of 2014 given interest rates and car price increases which are above inflation. As a result, the expected reduction in the petrol price by 67c a litre on Wednesday will not have any impact on vehicle sales. However, the good news is that the export market will continue to be the star performer in the motor industry given the stability going forward post the wage settlements.”

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General Comments on August 2014 NAAMSA sales:

• The month of August 2014 experienced a (-3.25%) decrease in sales compared to July 2014.


• Month on Month both Passenger (-4.96%) and Light Commercial Vehicles (-0.88%) experienced negative growth.


• Year on Year monthly comparison shows a decrease of -1.37% in August 2014 compared to August 2013.


• Year to date (January – August 2014) comparisons shows that vehicle sales are down by -4.33% in the first 8 months of the year when compared to last year.


• Month on month Exports increased in August (10.08%) with Passenger vehicles increasing by 31.09% and Light Commercial Vehicles growing by -17.10%.


• Year on year monthly comparison shows an improvement in exports of 18.52% in August 2014 compared to August 2013.


• AMH & AAD saw an increase in August 2014, 26.35% month on month.

General Comments on August 2014 Standard Bank VAF Personal Applications:

• In August 2014 applications for both new and used vehicles experienced negative month on month growth of -11.8% and -8.3%, respectively.


• Year on year monthly comparison on applications shows a decline in both new (-39.3%) and used (-8.5%) vehicle market applications in August 2014 compared to August 2013.


• Applications in both Passenger Vehicles (-9.5%) and Light Commercial Vehicles (-10.5%) in the Personal market had negative month on month growth in August 2014.


•  Year on year monthly comparison shows negative growth for both Passenger Vehicles (-2.2%) and Light Commercial Vehicles (-1.3%) in August 2014.


• The proportion of applications with RV’s stayed at 18.7% in August 2014 (6.3% year on year increase in RV’s).


• The proportion of applications with deposits decreased by -6.3% year on year in August 2014 compared to August 2013.


• The Average Contract Term on applications increased from 66.6 months to 66.8 months (August 2013 to August 2014).


• The average application size increased to R207 612.

Nicholas Nkosi – Head of Standard Bank Vehicle and Asset Finance – Personal Markets

General Comments on August 2014 Standard Bank VAF Personal New Business:

• In August 2014 Personal new business experienced negative month on month growth in both new (-5.5%) and used (-11.6.9) vehicle markets.


• Personal new business year on year comparisons shows a decline in both new (-35.0%) and used (-33.9%) vehicle markets in July 2014 compared to August 2013.


• Passenger vehicles had negative month on month growth of -9% while Light Commercial had positive growth of 1.0%.


•  Personal new business year on year monthly comparison shows a decline for both Passenger Vehicles (-45.3%) and Light Commercial Vehicles (-47.1%) in August 2014 compared to August 2013.

Also view:

Vehicle Finance, Car Insurance and Road Safety

Buying and Selling a Vehicle – Informed decisions and the Vehicle Retailer

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Naamsa vehicle sales report for August confirms pressure on domestic passenger vehicle sales