South African domestic vehicle sales dropped by 98.4% from a year earlier to 574 units, the National Association of Automobile Manufacturers of South Africa said in an emailed statement Monday. That compares with average monthly trade of more than 41,000 units over that last 20 years.
The Naamsa data show only 105 passenger cars were sold in April, a drop of 99.6%. Some of those may, however, be transactions that started in March and were only finalized and recorded last month. The data form part of the Reserve Bank’s leading indicator, which gives a sense of the future state of the economy.
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