South Africa is currently in the longest upward business cycle since 1945, having experienced 28 consecutive quarters of positive growth.

March sales definitely exceeded all expectations and for the first time ever, total sales including non-reporters, exceeded 60,000 units in one month.

One solution is to search world markets for cheaper entry-level vehicles, with China an obvious possibility. The industry should also continue to explore innovative vehicle finance packages to allow more people to enter the market.

McCarthy Limited has confidence in the future of the South African vehicle industry, and we expect meaningful growth through to 2010. The upgrading and expansion of our dealer network will put us in an excellent position to capitalize on future opportunities.

We believe that these facility developments will enable us to further enhance our service offerings to our customers.

This new January record augurs well for the rest of the calendar year.