Despite a 3% interest rate cut, hard-hit consumers aren t flocking to dealerships Denis Droppa > By Denis Droppa - 07 January 2021 - 16:45 Monthly new-vehicle sales since dealers reopened have been below 2019 levels. Image: Supplied
The crippling effects of the Covid-19 pandemic saw new-vehicle sales in SA plummet 29.1% to 380,449 units in 2020, from 536,612 sales in 2019.
In a heavy blow to an industry that contributes 6.4% to GDP, it was a drop back to the levels of two decades ago, says the National Association of Automobile Manufacturers of SA (Naamsa).
Much of the damage was done during the hard lockdown when vehicle factories and dealerships were shut down from March 27 to May 13, but sales haven’t recovered to previous levels since the automotive market reopened.
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