SA mulls 50% tariffs on Chinese, Indian cars
JOHANNESBURG - South Africa’s new vehicle market saw strong growth in April, but rising fuel prices are starting to weigh on the outlook.
New vehicle sales rose 13 percent year-on-year to just under 48,000 units, marking the best April performance in over a decade.
Exports also fell slightly and the industry said sales remain steady for now. They're supported by earlier improvements in financing conditions.
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However, higher global oil prices are now pushing up fuel costs, increasing transport expenses and the overall cost of owning a vehicle.
While the temporary fuel levy relief is offering some support, the industry warns that rising costs could continue to impact consumers and businesses in the months ahead.