Car sales down in January

The new year has started in low gear for the motor manufacturing industry with total new vehicle sales declining by more than 10% in January.

Sales figures released by the manufacturers' association Naamsa show the demand for passenger cars falling sharply by about 14.5% compared to the corresponding month last year.

Light commercial vehicle sales declined marginally. Medium and heavy vehicle sales bucked the trend with sales up 27% and 14% respectively.

The National Credit Regulator (NCR), which came into existence in 2006 has been blamed for the decline in car sales.