South African Auto Market Adapts To Economic Challenges With Strong Used Vehicle Demand And Rising EV Interest Kaya Biz podcast

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South African Auto Market Adapts to Economic Challenges with Strong Used Vehicle Demand and Rising EV Interest

6d ago 12:43

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GUEST - Marcia Mayaba, Sales Vice President: Auto Information Services at TransUnion South Africa
TransUnion's latest Vehicle Pricing Index (VPI) for Q2 2024, which integrates alternative data and several market-leading sources, shows a 6% decline in new vehicle sales and a 6.1% drop in total vehicles financed from the previous quarter.
Despite this, the market is showing signs of resilience, with a slight increase in consumer confidence and positive trends in generational shifts toward vehicle financing. The used-to-new ratio of financed vehicles moved to 1.44, up from the 1.15 of Q1 2024. This indicates a growing consumer preference for used vehicles. This preference comes at a time when used vehicle prices have risen by just 0.6% year-over-year (YoY), well below the rate of inflation. Over the same period, new vehicle prices rose by 4.4%, suggesting the market is under strain and that affordability remains a priority. Kaya FM

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168 episoder

#Trading #Business News #Business #News #South Africa #Kaya FM

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South African Auto Market Adapts to Economic Challenges with Strong Used Vehicle Demand and Rising EV Interest

published 6d ago

Dela

M4A•Episod hem

Innehåll tillhandahållet av Kaya 959. Allt poddinnehåll inklusive avsnitt, grafik och podcastbeskrivningar laddas upp och tillhandahålls direkt av Kaya 959 eller deras podcastplattformspartner. Om du tror att någon använder ditt upphovsrättsskyddade verk utan din tillåtelse kan du följa processen som beskrivs här https://sv.player.fm/legal.

GUEST - Marcia Mayaba, Sales Vice President: Auto Information Services at TransUnion South Africa
TransUnion's latest Vehicle Pricing Index (VPI) for Q2 2024, which integrates alternative data and several market-leading sources, shows a 6% decline in new vehicle sales and a 6.1% drop in total vehicles financed from the previous quarter.
Despite this, the market is showing signs of resilience, with a slight increase in consumer confidence and positive trends in generational shifts toward vehicle financing. The used-to-new ratio of financed vehicles moved to 1.44, up from the 1.15 of Q1 2024. This indicates a growing consumer preference for used vehicles. This preference comes at a time when used vehicle prices have risen by just 0.6% year-over-year (YoY), well below the rate of inflation. Over the same period, new vehicle prices rose by 4.4%, suggesting the market is under strain and that affordability remains a priority. Kaya FM

… continue reading

168 episoder

#Trading #Business News #Business #News #South Africa #Kaya FM

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