New vehicle sales recovery back on

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More reflective of actual performance, the month’s sales were up 4% relative to August sales, which was the second-best sales month this year prior to September’s performance. Although new vehicle sales are 30.1% up year-to-date to 345 172 units compared to the same pandemic-impacted period last year, WesBank continues to finance well over two used vehicles for every new vehicle.

The sales mix across new and pre-owned is an interesting factor impacting the sustainability of the motor retail sector during the pandemic. “The relationship between new and used vehicle sales is a cyclical and complementary one, particularly in the dealer and, therefore, the consumer space,” says Lebogang Gaoaketse, head of marketing and communication at WesBank.

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