IN SECOND GEAR: Cautious optimism — New vehicle sales give industry a modicum of hope for 2023 recovery

New vehicle sales are improving, but they are likely to take a while to reach even pre-pandemic levels, as industry body Naamsa said 2022’s sales were 1.4% below those of 2019.

The new vehicle market registered its 12th consecutive month of year-on-year growth during December 2022, with total sales at 41,783 units — a 16.2% increase on the same period in 2021. December 2022 boasted some bumper sales: 26,302 units — a 24.2% YoY increase on 2021 — left South African ports.Overall, out of the total reported industry sales of 41,783 vehicles, 37,479 units were sold via dealers; 7.3% were sold to the vehicle rental industry; 1.5% to the government and 1.5% to industry corporate fleets.

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Business Maverick: South African President Plays Down Central Bank Mandate Change TalkSouth African President Cyril Ramaphosa played down suggestions that an amendment to the central bank’s mandate is imminent, while confirming that a possible change remains under discussion. Once again no backbone.......the alliance ( In normal English ....Coalition) must split..... Why destroy one thing that works? The markets will rip faces off if they get it wrong.
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