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SA new car sales continues to slump

South Africa’s new vehicle sales market continued deteriorating in October according to the latest aggregated sales data from the National Association of Automobile Manufacturers of South Africa (Naamsa).
The Naamsa data shows total industry sales of 48,745 new vehicles – a year-on-year decline of 10.1%. Year-to-date, the industry is down 11.2%, with sales of 459,486 new vehicles, compared to 517,152 new vehicles sold for the same period last year.
Overall demand has slowed across all vehicle segments, with passenger cars and Light Commercial Vehicles (LCVs) seeing respective year-on-year declines of 9.5% and 10.7%. Sales to rental and fleet companies grew 31.6%, year-on-year, with total sales of 7042 vehicles. Year-to-date, the rental market has grown 20.5%.
However, growth in the rental market could not offset losses in the dealer channel, where new passenger car sales fell by 18.3%. This drop in demand at a dealer level correlates with data from WesBank, which shows 15.3% fewer loan applications received for new vehicles during October.
Affordability remains the main influencing factor for the decline in new vehicle sales and the migration to used. New car prices have increased above CPI rates, based on the Rand’s weakness over the last two years. In October the average new car financed was 12.7% more expensive than the same period in 2015. Additionally, rising living costs and higher interest rates have placed consumers’ monthly budgets under more pressure.
October saw the highest-ever volumes for used vehicle finance, with 97,209 applications received – year-on-year growth of 3.4%.

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Today the Typesetter is a position at a newspaper that is mostly outdated since lead typesetting disappeared about fifty years ago. It is however a convenient term to indicate a person that is responsible for the technical refinement of publishing including web publishing. The Typesetter does not contribute to editorial content but makes sure that all elements are where they belong. - Ed.

Following reverse listing, public can now acquire shareholding in Paratus Namibia


20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.