Retail: MAY 2009 NAAMSA RETAIL SALES
Recent Gauteng Business News
“That figure is up 9,26% on last month, but May was one of the poorest sales months on a daily sales rate basis to hit SA in recent history, so not too much solace can be reaped from that,” says Jacques Brent, Vice President Sales and Marketing, Ford Motor Company of Southern Africa. “The market continues to be depressed, with the sentiment around job security flowing from a recession impacting on vehicles purchases and outweighing the interest rate cuts we have seen to date.”
Compared to May 2008, passenger cars continued to be the best performers, declining 25,8%, while light commercials took a harder hit with a 41,6% slow down. The medium and heavy commercial vehicle segments remain the biggest losers with mediums down 41,9%, heavy commercials down 47,5%, and the extra heavy market 61,4% down on the same period last year.
Ford Motor Company of Southern Africa continued to command a strong Number Three position by sales volume, once again out-pacing the market trend. Total FMCSA sales slowed 25% on May 2008, while passenger sales were only 21, 2% down and LCV sales 30, 3% down. Fiesta remained the best performer, recording the car’s second best sales month since launch, while Bantam sales grew 24, 6% over April 2009. The S40 and Mazda2 were Volvo and Mazda’s best sellers respectively.
“Funding remains a challenge for the market, with many credit applications continuing to be declined,” says Brent. “However, the recent further interest rate cut should spur more affordability into the market with hopefully a sentiment change as we move into the second half of the year.”
Business News Sector Tags: Business| Retail|