NEWS
SA car prices increase slower than inflation
Good news for consumers but not for motor industry as TransUnion reveals latest Vehicle Pricing Index
Vehicle prices in SA are increasing slower than inflation, according to the latest TransUnion SA Vehicle Pricing Index (VPI). The VPI measures the relationship between the increase in the pricing of new and used vehicles from a basket of passenger vehicles sold locally. The vehicle risk intelligence company calculates the VPI from data it receives on monthly sales returns from thousands of dealers throughout the country, as well as vehicle financing registrations from the major banks. The Index for the first quarter of 2019 was 2.3% for new vehicles and 1.8% for used vehicles, which means that prices continue to increase more slowly than the 4.1% inflation rate, says Kriben Reddy, head of TransUnion Auto. The VPI fell for the seventh consecutive quarter as the effects of fuel hikes, challenging economic conditions and electricity outages caused by load-shedding took their toll, said TransUnion. New-vehicle sales have declined nearly 10% compared to the first three months of 2018, wi...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.