Total New Vehicle Sales measure the number of vehicles sold by South African retailers in the reported month.
The National Association of Automobile Manufacturers of South Africa (NAAMSA) publish monthly sales data broken down by vehicle types: cars, small and medium commercial vehicles, heavy trucks and buses. The statistics includes domestic sales and exports. The latter accounts for a larger part in total sales. In addition, the report contains forecast values for the next year.
The automotive industry makes a significant contribution to the country's GDP and employment, so the indicator reflects the state of the economy. The indicator growth demonstrates consumption growth and a favorable economic situation in the country. Therefore, higher than expected readings can affect the South African rand quotes positively.
The chart of the entire available history of the "South Africa Total New Vehicle Sales" macroeconomic indicator.
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