South African vehicle sales increase 1.5% in July 2024, while European electric vehicle sales decline.

South Africa's vehicle sales saw a 1.5% increase in July 2024, marking a potential turning point for the industry, while new car sales in the UK rose 2.5% year-on-year in July. However, the European auto industry faces a decline in electric vehicle sales, with the UK and Germany reporting weak demand. In Germany, auto industry business expectations deteriorated to -18.3 points in July, as carmakers reduce output at high-cost factories. South Africa's new vehicle market still lags behind by 6.3% compared to the first seven months of 2023.

August 05, 2024
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