Car sales up 8.8% yoy

A total of 15,881 have been sold year to date while 1,912 new vehicles were sold during September, up 12.9% month on month, reflecting a recovery after July’s all-time highs, according to IJG Securities. On an annual basis growth increased by 32.8% from last year September, up from 15.6% year on year growth in August. Sales of passenger vehicles decreased, falling 5.4% month on month to 765 vehicles but up 8.8% compared to a year ago. Year to date, passenger vehicle sales are up 26.3% when compared to the same period last year. Commercial vehicle sales increased by 29.6% month on month to 1147 units, an increase of 55.6% year on year. Cumulative commercial vehicle sales are up 40% compared to this time last year, IJG reported. Toyota and Volkswagen dominated the passenger market once again, selling the most vehicles in September, with the two brands claiming 30.3% and 21.8% of sales respectively. Toyota is the market leader in light commercial vehicles, having the lion’s share of at 49.4% of the market, followed by Nissan at 17.4%. The expansion in vehicle purchases in the 2014/15 National Budget continues to play a part in the increases and should carry current levels of vehicle sales through to the end of the year with a slight decline expected coming off a high base. Current cumulative vehicle sales are less than a month away from surpassing last year’s total figure pointing to another year of strong growth.