AFFORDABILITY
Price hikes drive SA buyers into cheaper cars
Consumers are just about R7,000 short on their budgets every month — more than the cost of owning an entry-level car
06 August 2020 - 05:00
New-vehicle prices in SA rose 6.5% in the second quarter of the year, the first above-inflationary hike since 2017 and a sharp spike over the 3.1% increase in Q2 2019.
This has caused a consumer trend to buy cheaper cars as pressure on disposable income increases, according to the latest TransUnion SA Vehicle Pricing Index (VPI), which measures the relationship between the increase in pricing for new and used vehicles from 15 top volume brands...
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