There are signs that South Africa’s retail motor sector is starting to emerge from its Covid-19 induced slump. In May 2021 naamsa reported a 7.7% increase in new vehicle sales over April, suggesting ongoing recovery in the market.
The scans on LIVE – which indicate an ‘intention to sell’ – suggest momentum in the market has recovered to pre-Covid-19 levels.
Total Signio applications were also up, 30% higher in September 2020 compared to September 2019, and after a slow start in 2021, application volumes have continued to increase and were 40.85% higher in March than in the same month last year.
The data suggests cause for optimism although the months ahead remain trapped by uncertainty caused by Covid-19’s third wave and South Africa’s slow vaccination rollout.