“Despite the subdued economy, compounded by political and economic policy uncertainty, the new vehicle market had registered encouraging gains lead by upward momentum in the new light commercial vehicle and new car segments,” Naamsa reports.
The report showed that 50 322 new vehicles were sold across all sectors, representing year-on-year sales growth of 6.3 per cent.
The sector showed gains for a fourth consecutive month, with new vehicle exports also showing strong gains.
Naamsa also believed that domestic sales could improve even more in the months to come.
“The recent sharp increase in the Reserve Bank’s leading indicator and the improvement in the Purchasing Manager’s Index suggested that further improvement in domestic sales could be expected in the months ahead,” the report said.