S. Africa Auto Sales Growth Slows In May

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South Africa's domestic Auto Sales
grew at a slower pace in May, reflecting constraints on the
availability of components from Japan after the earthquake in March, the
National Association of Automobile Manufacturers of South Africa (NAAMSA) said Thursday.

Domestic Sales advanced 6.1 percent year-on-year, slower than the 7.9 percent Growth seen in April. Meanwhile, export Sales were down 8.8 percent from the corresponding month of last year.

New car Sales in May increased by 12.1 percent to 28,830 units. The higher Sales
of new cars over the past few months reflected continued recovery on
the consumption side of the economy largely driven by a fall in interest
rates.

At the same time, Sales in the medium and heavy truck segment of the industry showed a mixed performance. Medium sized vehicle Sales dropped 5 percent, while heavy truck and bus Sales rose 19.1 percent.

Total domestic Sales
registered an annual increase of 16.4 percent over the first five
months of 2011. The industry group said the momentum of new vehicle
export Sales would pick up during the months ahead.

South Africa's domestic Auto Sales
grew at a slower pace in May, reflecting constraints on the
availability of components from Japan after the earthquake in March, the
National Association of Automobile Manufacturers of South Africa (NAAMSA) said Thursday. (Market News Provided by RTTNews


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