Despite a high fuel price, sales of new cars in South Africa increased by 25%, boosted by an emerging black middle class, also called "Buppies" or "blackoisie", leaning on the French word "bourgeoisie" (middle class). The National Automobile Association of South Africa (NAAMSA) on Monday said the industry sold 565,018 new cars in 2005, up 25.7% from 2004. Nico Vermeulen, NAAMSA’s director attributes the surge in sales to a boom in the economy, which grew at an estimated 5%, low interest rates and a new black middle class or "buppies" emerging. "A third of total sales are today from black consumers", said Vermeulen.