Figures released by naamsa | the Automotive Business Council showed that the June new vehicle sales were down 14% year-on-year, however this is an 8% increase compared to May 2024.

“Vehicle price inflation, high interest rates, and the general rising costs of living are all impacting the ability of new car buyers to enter or stay in the market,” says Lebo Gaoaketse, Head of Marketing and Communication at WesBank. “Until there is some relief in interest rates, greater incentive deals from manufacturers, or a significant shift in general inflation or earnings, the new vehicle market will continue to remain under pressure.”

Watch the video to find out more about what happened in the motor industry last month.



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