New vehicle sales down by 9% year-on-year

South Africa’s new vehicle sales dropped by 9% year-on-year to 55 322 units in September.

The Money Show’s Bruce Whitfield interviewed Alexander Parker, Motoring Columnist at Business Day.

Scroll down for quotes from the audio below.

It’s an alarming state of affairs for the industry.

Alexander Parker, Motoring Journalist at Business Day

There’ll be fewer sales than in 2008.

Alexander Parker, Motoring Journalist at Business Day

Sales to the rental industry is down more than 21%; due to the collapse in tourist numbers.

Alexander Parker, Motoring Journalist at Business Day

New cars are terrifyingly expensive.

Alexander Parker, Motoring Journalist at Business Day

People are buying down.

Alexander Parker, Motoring Journalist at Business Day

Companies are cutting things to the absolute bone. Toyota is in good shape, but other companies have to find savings somewhere.

Alexander Parker, Motoring Journalist at Business Day

Perversely, there couldn’t possibly be a better time to buy a new car. Dealers must shift metal.

Alexander Parker, Motoring Journalist at Business Day

If you buy a car that is built here, the price is not too bad compared to what you’d pay abroad.

Alexander Parker, Motoring Journalist at Business Day

Exports are up. The quality of cars made in South Africa is excellent.

Alexander Parker, Motoring Journalist at Business Day

If the currency remains weak it will spur more investment by car manufacturers.

Alexander Parker, Motoring Journalist at Business Day

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