The local truck market is lagging 2.9% behind the sales recorded during November 2016, a total of 24 201 trucks that have been sold after 11 selling months in 2017.
This is according to the latest results released by the National Association of Automobile Manufacturers of South Africa (Naamsa), Associated Motor Holdings (AMH) and Amalgamated Automobile Distributors (AAD).
“With less than one month of sales left in 2017, the industry will battle to surpass 27 000 units at the end of the year, which was forecast to happen at the beginning of the year” said Gert Swanepoel, managing director of UD Trucks Southern Africa.
“The local industry held up remarkably well despite South Africa’s stagnant economy, credit downgrades and prevailing political uncertainty.”
Looking at November’s sales in isolation, the Medium Commercial Vehicle segment was 16.7% down on November 2016’s performance, to 688 units. The Heavy Commercial Vehicle segment was slightly down by 1.7%, to conclude the month on 471 units.
According to the release, sales in the Extra Heavy Commercial Vehicle Segment increased by 2.2% year-on-year to 1 103 units. The Bus segment had a stellar month with a 43.9% increase in sales to 82 units, as some significant contracts were concluded in anticipation of the upcoming summer holiday season.
“Good sales results in the Bus and Extra Heavy segments show that companies are still willing to invest in new assets, especially leading into the new year,” said Swanepoel. “Sales in industry segments like mining and construction have picked up over the last quarter or so, which is reflected in the positive sales results in especially the Extra Heavy segment.”