For the first eight months of the year, car sales in South Africa were down by 12% to 240,251, according to a report by Business Day Live.
The number would have been even lower if it had not been for the car rental market — Standard Bank’s Nicholas Nkosi said the rental market accounted for 22% of new car sales, according to the report.
Rainer Gottschick, CEO of Avis Rent a Car Southern Africa, said the rental industry has been encouraged by the increasing number of tourists visiting South Africa, according to the report.
“We are quite optimistic about the year-end holiday season, Gottschick told Business Day Live. “We are seeing high single-digit percentage growth for inward tourism.”
Click here for the full Business Day Live report.