A record number of new cars were sold in October, the National Association of Automobile Manufacturers of SA (Naamsa) said on Thursday.

There were 37 311 sales, 3973 (11.9 percent) more than the 33 338 new cars sold in October last year, Naamsa said in a statement.

However, sales were 464 (1.2 percent) lower than the 37 775 units sold in September.

Year-on-year, new car sales were still 15.4 percent higher than in the first ten months of 2005.

Naamsa said vehicle sales had significantly improved in October, after months of consolidation in market growth rates.

There were 7166 more new vehicle sales last month than the same period last year when 50 682 units were sold.

Sales were also up 249 on the record number of sales in September.

Year-on-year, total new vehicle sales were 15.6 percent up on those in the first ten months of 2005, Naamsa said.

There was also a significant improvement, year-on-year, in the growth rates of the sales of new light commercial vehicles and bakkies and minibuses.

The 17 405 units sold — a record for an October month — was an improvement of 2650 (18 percent) on the 14 755 sales last year.

Light commercial vehicle sales also increased, by 782 (4.7 percent) from the 16 623 sales in September, and were 15 percent up on the first ten months of 2005.

Naamsa described sales of medium and heavy trucks as relatively good, with 1309 medium truck sales and 1823 of heavy trucks and buses.

Both segments had continued to benefit from strong fixed investment and infrastructural development, it said.

Medium truck sales were 19.1 percent up on last year, and heavy truck sales 23.8 percent up.

As far as vehicle exports were concerned, they increased to 146,861 in October, 34 816 (31.1 percent) more than in October last year.

While the momentum of export sales had declined in the past three months, it was expected to pick up as additional vehicle export programmes were implemented.

Naamsa expected consolidation for the rest of the year, into 2007, on the back of interest rate increases, higher producer price inflation and increased pricing pressure from exchange rate weakness.

Sapa

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