The long term effects of Jacob Zuma’s game of musical chairs with the country’s Finance Minister position are sure to play out over the years to come, but in the short term it’s becoming clear that certain sectors are already feeling the pinch.

One of those is the National Association of Automobile Manufacturers of SA (Naamsa), who have reported steadily decreasing sales since the turn of the year. Wheels24 to crunch the numbers:

Total industry sales declined 8.1%, year-on-year, with 48 148 new vehicles sold. Year-to-date, the market has receded by 7.6%.

Passenger car sales fell 6.1% (32 825 cars) while Light Commercial Vehicles (LCVs) tumbled 13.1% with only 13 161 new vehicles sold in this segment.

Combined sales for the remainder of the commercial vehicle segment were down 5.8% and also reflected a weaker market…

Vehicle finance specialists Wesbank reports that sales through the dealer channel continued to wane, dropping 9.5%, year-on-year.

An infographic based on Wesbank’s business in February then:

The decrease in new car sales has seen an increase in the used car market, with Wesbank offering this advice to those buying a car:

…budget carefully and plan for all mobility costs. With interest rates and new car prices on the rise, and set for increase throughout the year, monthly repayments will be higher than usual. This is likely to have an effect on insurance premiums.

True that, although we’ll add a little extra for you to mull over. Seth’s always been the kind to shoot around town in a MINI, which is why if you drop him a line at editor@2oceansvibe.com with the subject line ‘MINI Me March’ he’ll spread the love and sort you out with a discount.

I know it’s tough out there but don’t skimp on all of life’s luxuries – especially when you consider that the new MINI Convertible is hitting our shores soon.

Like. A. Boss.

[source:wheels24]