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Posts Tagged ‘new car sales’

March 17 2010

New Car Sales in 2010

Everyone is holding thumbs that lower interest rates and optimism surrounding 2010 will help boost the local motor industry during 2010;

SOUTH AFRICA: NEW CAR SALES UP 20% IN JANUARY… physique NAAMSA uncover which a automobile marketplace grew by 15.5% year-on-year in January, yet a organization warned which Jan final year was unusually weak. See strange here: SOUTH AFRICA: New automobile sales up 20% in January.

Car sales are up, 2010 is off to a great start! | Common DialogueThe motor industry is the most volatile manufacturing industry in South Africa, measured over any significant time period. Hence this extreme gyration in sales is not totally unexpected. In both 2004 and 2005 sales of passenger car …

NAAMSA January 2010 FiguresThe market in January, however, has come in substantially above expectations reflecting a larger than normal carry-over of new car sales into the new year,” commented Mike Glendinning, Director of Sales and Marketing, VW of SA. …

Justmoney News » Blog Archive » New vehicle sales rising in SA South Africa continues to emerge from the economic recession stronger than ever after newly released data showed that new vehicle sales in the country went up by 20.5 percent in February.It was the second consecutive month of … Whether you’ll be buying your first vehicle brand new and in cash or whether you’re considering vehicle finance for a new or used car, there are a few things to keep in mind before going ahead with the purchase: Read the rest here… Share This! …

Vehicle sales continue growth path; Toyota holds steady,/a>The National Association  of Automobile Manufacturers of South Africa (Naamsa) on Tuesday reported that new passenger car sales in February grew by 27,5% compared with the 20 403 new cars sold during the same month last year, when sales …

New car sales driving higher Aggregate industry new car sales during February, 2010 had exceeded expectations and at 26009 units reflected a massive improvement of 5606 units or 27.5% compared to the 20 403 new cars sold during February, 2009 when sales had been …

Lower interest rates and and an upturn in the local economy should see an increase in applications for car finance , the industry has been struggling over the last few years and this is reflected in the low levels of credit extension in the vehicle finance sector.

March 16 2010

Interest Rate Outlook 2010

We survey the blogosphere to see what others are predicting for interest rates during 2010 ;

Lower Interest Rates Will Revitalise Property Market By 2010
In 2009, the direction of the property market is largely defined by what is happening globally as well as politically in South Africa.With the introduction of the National  Credit Act as well as high interest rates, loans became …

South Africa keeps interest rates on hold at 7% - MarketWatch/FRANKFURT (MarketWatch) South Africa’s central bank decided on Tuesday to leave its repurchase rate unchanged at 7.0%. The decision was in line with market expectations.

South African inflation targeting to stay – Nene.
Opponents of the policy argue that efforts to contain inflation within the 3 to 6 percent target range have kept interest rates too high, adding to job losses during last year’s recession. The central bank raised interest rate by 500 …

South African Business - Standard Bank sees interest rates rising.
Posted by business on Thursday, March 4th 2010. Is it time to be cautious with debt or will it still be affordable? Read More on Moneyweb · Report This Post. Categorized in Uncategorized …

Sentiment appears somewhat mixed , but all experts agree that lower interests should play an important role in stimulating housing demand , resulting in a more robust property sector during 2010. We are also starting to see a slow uptick in new car sales - most agree that the economy has bottomed out.

May 6 2009

Vehicle Sales Down

Sales data released by the National Association of Automotive Manufacturers of South Africa(NAAMSA) confirms that South Africa is in a economic slowdown. Vehicle sales have long been a leading indicator and Economists watch these numbers for any sign that the bottom has been reached. Vehicle sales have been negative since the introduction of the National Credit Act (NCA)  and more stringent lending criteria virtually froze many prospective car buyers out of the market.

According to NAAMSA new car sales for March 2009 were down a whopping 30.3 compared to April 2008 ,a total of 36 332 units sold compared to 52 146 for the previous March. The decline for the first quarter of 2009 is 34.2% comapred to 2008 Q1 figures.

Factors contributing to the slowdown are the global recession as well as more stringent lending criteria since the introduction of the NCA in 2007. Global auto manufacturers have also been experiencing tough times with the future of US automakers General Motors and Chrysler appearing bleak. General Motors having to go through a major restructure while Chrysler recently went into bankruptcy.

It may not be quite so bad for the local auto industry , but times are tough and many auto workers are facing retrenchment. What does this mean for South African car buyers , if you can obtain financing or better yet don’t need financing , you are in a fantastic position to score some great deals. Dealers are keen for business and you should be able to negotiate a good deal.

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