WEB South Africa auto sales down 140% in June, down 74% in H1 2024
Auto sales in South Africa have plummeted by 140% in June and 74% in the first half of 2024, according to the National Association of Automobile Manufacturers of South Africa (NAAMSA).
This decline is attributed to a number of factors, including the global economic slowdown, rising interest rates, and the ongoing energy crisis. The automotive industry is a major contributor to the South African economy, and this decline in sales is a cause for concern.
The government is working to address the challenges facing the automotive industry, and has recently announced a new Automotive Master Plan to guide the development of the sector.
The plan includes a number of measures to support the industry, such as incentives for the production of electric vehicles and investment in infrastructure. It is hoped that these measures will help to revive the automotive industry and create jobs.
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