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New car sales significantly down in December

The Department of Trade and Industry says 41, 639 units were sold in December, which was significantly down from the same period last year.

FILE: New Toyota vehicles at a dealership. Picture: AFP

JOHANNESBURG – With consumers continuing to feel financial pressure, new vehicle sales have fallen in the country for the month of December.

The Department of Trade and Industry says that sales fell 15.3% year on year for December, with fewer consumers spending money on a new vehicle.

The department says 41,639 units were sold in December, significantly down from the same period last year.

However, it says exports were up 7% to 18,668.

Consumers have been facing increasing fuel prices and rising inflation, due to a number of factors.

Economists say the drought has led to rising food prices driving inflation.

The reserve bank indicated last year that consumer spending had remained subdued with many remaining cautious with their money.

(Edited by Masechaba Sefularo)

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