Vehicle sales reach record high in August

ALAN PEAT IN SPITE of the full percentage point increase in interest rates this year, and more expensive vehicle financing, unit sales have continued to grow to a record high in August. According to the latest figures from the National Association of Automobile Manufacturers of SA (Naamsa), although year-on-year (y/y) growth in percentage terms abated, largely due to high base effects of near 30% growth in August last year, the demand for new passenger and commercial vehicles continued to soar over the first eight months of 2006.