Press Room

2018/07/02

New vehicle sales are tracking in line with WesBank's 2018 forecast

Posted in category: New Vehicle Sale Commentary

At the start of the year WesBank released its new vehicle sales prediction of 0.75% growth for the total industry. When comparing its projection with data released by the National Association of Automobile Manufacturers of South Africa (Naamsa) for the first half of the year, WesBank is comfortable with new vehicle sales performance tracking only 5% behind its forecast.

Read more »

2018/06/19

To lease, or to finance: that is the question

Posted in category: General

"Why own a cow when the milk is so cheap? All you really need is milk and not the cow." - Donald B. Grant. That's the question almost all small-to-medium business owners might find themselves asking; should we look to own our assets, or simply use them? And while Donald B. Grant's point makes sense at face value (leasing can be cheaper in the short term), asset funding is rarely as simple as that. After all, we're not all dairy farmers. Like with most business decisions, you need to weigh up the pros and cons - not in general terms, but in the context of your own business's unique needs. Having said that, here are the main considerations when choosing between leasing or financing an asset.

Read more »

2018/06/01

New vehicle sales recovery not to be confused as growth

Posted in category: New Vehicle Sale Commentary

According to data released by the National Association of Automobile Manufacturers of South Africa (Naamsa), new vehicle sales are up by 2.4% year-on-year across all vehicle categories.

Read more »

2018/05/02

New vehicle sales in April reflect deceptive growth

Posted in category: New Vehicle Sale Commentary

Irregularity in new vehicle sales numbers continues to contribute to market uncertainty. According to aggregated data from the National Association of Automobile Manufacturers of South Africa (Naamsa), April’s sales of 36 346 units reflect a 3.6% year on year growth, while at the same time showing a dramatic month on month decline of 26.2%.

Read more »

2018/04/03

March vehicle sales driven by consumers' pre-emptive buying

Posted in category: New Vehicle Sale Commentary

Despite fewer selling days in March due to public holidays, the new vehicle industry made an upward swing, with a total of 49 233 new vehicles sold reflecting a growth of 1.1% year on year. Aggregated sales data from the National Association of Automobile Manufacturers of South Africa (Naamsa) show passenger car sales through the dealer channel contributing to the bulk of growth with an 8.8% increase when compared to the same month last year.

Read more »

Spokespeople profiles

WesBank - CEO
Chris de Kock

WesBank - CEO

Chris de Kock took over as CEO of WesBank on 01 October, 2013 after occupying the Head of Sales and Marketing role for five years. He joined WesBank in 1987 as a New Business clerk in the Motor division and spent time working in the Corporate, Marketing, Fleet and Insurance divisions. Chris has a Bachelor of Commerce degree from UNISA and completed the Advanced Executive Program at Harvard in 2005.

WesBank - CEO of Corporate
Gerald Burton

WesBank - CEO of Corporate

Gerald Burton was appointed CEO of the Corporate Division in September 2016 after filling the position of General Manager of Corporate Division since 2009. His role requires him to focus constantly on building and delivering Instalment Sales, Leasing, Rental and Fleet Management solutions for the South African corporate market. Gerald joined WesBank in 1991 in a sales role and has over the years, contributed extensively to both the Retail and Corporate divisions at the bank.

For more information, contact us

Telephone: (011) 632 6000

Email: pr@wesbank.co.za