Cost of motoring continues to rise
Recent cuts in fuel prices and interest rates provide respite but owning a car is still 28% higher than five years ago
The interest rate cut and drop in the petrol price during July is good news for consumers. However, the cost of motoring continues to rise steadily. The monthly mobility basket, which consists of vehicle instalments, fuel, insurance and maintenance fees, has risen to R7,851.
This is 3% higher than last year and 28% higher than five years ago when monthly costs amounted to R6,144...
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