New vehicle sales down almost 10% year-on-year in April

New vehicle sales fell to 40 390 in April from 47 631 in March.

This is down 9.2% compared to April 2015.

Combined sale for the first four months of 2016 are down 9.7% compared to 2015.

The Money Show’s Bruce Whitfield interviewed Chris de Kock, Chief Executive Officer of Wesbank.

Scroll down for quotes from the audio below.

It was last this tough in 2007/2008.

Chris de Kock, Chief Executive Officer of Wesbank

There has been a sharp shift to the used-car market.

Chris de Kock, Chief Executive Officer of Wesbank

We’re happy financing both new and used cars.

Chris de Kock, Chief Executive Officer of Wesbank

Uber is not yet having an impact on car sales.

Chris de Kock, Chief Executive Officer of Wesbank

Car sharing is becoming a popular alternative in developed countries.

Chris de Kock, Chief Executive Officer of Wesbank

Enter your email address in the form below to receive a newsletter containing the seven most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
David Lewis from Corruption Watch shares his money hopes (and fears)

David Lewis from Corruption Watch shares his money hopes (and fears)

Every week The Money Show’s Bruce Whitfield interviews a famous person about her or his attitude to money (hopes and fears, successes and failures, etc.)

No time to get up to speed? New business ideas distilled into a practical guide

No time to get up to speed? New business ideas distilled into a practical guide

Ian Mann discusses his new book “The Executive Update: The latest business ideas distilled into one practical guide”.

Replace ANC Government! - (newly formed) Saftu president Mac Chavalala

Replace ANC Government! - (newly formed) Saftu president Mac Chavalala

The Money Show’s Bruce Whitfield interviews labour analyst Mamokgethi Molopyane.

3 hottest JSE stock picks of the week (by Cannon Asset Managers)

3 hottest JSE stock picks of the week (by Cannon Asset Managers)

These three shares are the best investments on the JSE right now, says Cannon Asset Managers Portfolio Manager Samantha Steyn.

Rand breaches R12.90/$ as French vote increases appetite for risky assets

Rand breaches R12.90/$ as French vote increases appetite for risky assets

Vive la France! Markets - and the rand - are cheering the results from the first round of France’s presidential elections.

'Interest rates may rise 100 basis points in 2016 (and another 50 in 2017)'

'Interest rates may rise 100 basis points in 2016 (and another 50 in 2017)'

Ashburton Investments Strategist Mark Appleton does a roundup of the 2016 World Economic Forum and SA's economic prospects.

Popular articles
So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

NSFAS to reopen 2017 applications

NSFAS to reopen 2017 applications

National Student Financial Aid Scheme says it will reopen 2017 loan applications after receiving requests for deadline extension.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?

5 ways the NSFAS funding model will change in 2017

5 ways the NSFAS funding model will change in 2017

The National Student Financial Aid Scheme (NSFAS) will pilot a new funding model in 2017. NSFAS chairperson Sizwe Nxasana explains.

5 reasons why the tourism industry is sceptical about the latest numbers

5 reasons why the tourism industry is sceptical about the latest numbers

The tourism industry is questioning the veracity of the surprisingly upbeat tourism figures and the timing of their release.