New cars back in vogue Fin24
Johannesburg - New car sales made up more than half of South Africa's automotive sector sales in February, reversing the trend of the past 12 months in which used cars kept the market afloat.
Motor trade sales increased by 9.1% in February 2010 to R28.4bn, according to Statistics South Africa. New vehicle sales - together with fuel sales, which are included in the data gathering along with any revenue generated by the car industry - were the major contributors to this rise.
February's numbers are evidence that the recovery of South Africa's new car market is in place. It is the second month in a row in which the new vehicle contribution made up more than half of the total increase.
New vehicle sales figures from the National Association of Automobile Manufacturers SA (Naamsa) showed a 22% jump in new vehicle sales for March compared to the same month a year ago, providing further support to the upward trajectory.
Meanwhile, one of South Africa's biggest motor finance providers, Wesbank, said that loan applications support a trend of increased popularity of new cars over the second hand alternative.
BBC SportIs South Africa ready for 2010?The question now is whether South Africa can put on a successful World Cup. Will fears about crime, inadequate infrastructure and the pricing out of ordinary fans be realised? Or is Jordaan right to believe it will be a "festival of football" that can
