JOHANNESBURG, South Africa – Auto makers delivered 54,387 new vehicles in South Africa in October, a drop of 5.9% compared with year-ago’s 57,810, the National Association of Automobile Manufacturers of South Africa reports. The ongoing decline primarily results from the recent rise in interest rates, which have jumped 3.5% over the past 15 months, a NAAMSA spokesman says. Both new- and used-vehicle sales are expected to remain under pressure due to the tight monetary conditions that are ...

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