New vehicle sales in South Africa dropped by 5.23% in 2007, according to figures released by the National Association of Automobile Manufacturers of South Africa (Naamsa) on Jan. 10.
In its annual survey Naamsa reported that 612,707 new vehicles were sold in 2007, compared to 646,566 the previous year.
Total vehicle sales for last month stood at 41,813, compared to 49,258 in December 2006, Naamsa executive manager, Norman Lamprecht said, attributing the decline to high rates of inflation and interest as well as increases in the price of fuel last year. "Because of these increases, companies were unable to absorb their costs. New fuel prices also changed consumer purchasing habits. High fuel prices impacted on the sale of new vehicles," he said.
Toyota and Volkwagen vehicles topped the list of sales last year.
Copyright Agence France-Presse, 2008