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· The National Association of Automobile Manufacturers of South Africa (Naamsa) showed a steep decline in car sales in the country due to the Covid-19 pandemic in its sales data for 2020 published recently
· The sale of new vehicles came down to 156,163 units, or 29.1%, from 536,612 units in 2019 to the 380,449 units in 2020 ri9ding on the back of impact of Covid-19 pandemic
The National Association of Automobile Manufacturers of South Africa (Naamsa) showed a steep decline in car sales in the country due to the Covid-19 pandemic in its sales data for 2020 published recently.
The sale of new vehicles came down to 156,163 units, or 29.1%, from 536,612 units in 2019 to the 380,449 units in 2020 riding on the back of impact of Covid-19 pandemic. South African monetary authorities have cut the interest rate by 300 basis points. But the car sales refused to move in tandem with the reduced interest rates, which is now at a 50-year low.
The vehicle rental industry also effectively remained dormant due to the lockdown restrictions on business travel and tourism for most of the year.
