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European and US car brands have lost ground to Asian competitors in SA’s new and used vehicle markets since the start of the Covid-19 pandemic, as cash-strapped consumers seek to reduce their debt burden, a study by Absa Vehicle and Asset Finance suggests.

In the first quarter of 2022, European and US brands saw their share of the used-vehicle market shrink to 59% from 62% in 2019, before Covid-19 hit. The drop was more pronounced in the new-vehicle market, from 45% to 37%...

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