May's new vehicle sales and exports increased nearly tripled compared to the previous year, coming off low base effects of the strict lockdown conditions at the time. Naamsa on Tuesday released May's new vehicle sales data, which increased 197.8% to over 38 300. Generally, the new vehicle market is in a "gradual recovery mode" in line with economic growth recovery projected for 2021. On aggregate, new vehicle sales for the year-to-date is 449% higher than levels recorded over the same period last year. The recovery in exports particularly is linked to the rebound in the global economy and higher demand for vehicles in international markets, Naamsa said.

Source: News 24 June 01, 2021 18:45 UTC