News Formal

South African Car Market Under Pressure Due to Fuel Hikes and Economic Challenges

  • 📰 BusinessTechSA
  • ⏱ Reading Time:
  • 25 sec. here
  • 15 min. at publisher
  • 📊 Quality Score:
  • News: 58%
  • Publisher: 61%

Business Notícia

Transunion,Vehicle Pricing Index,South African Car Market

TransUnion's latest Vehicle Pricing Index (VPI) reveals that the South African car market is facing sustained pressure in Q3 2023 due to fuel hikes, inflation, economic challenges, and load-shedding. Slower demand and tightening credit supply have led to a decrease in financial agreement volumes for passenger vehicles. The negative sentiment has made it difficult for industry players to generate demand for both new and used vehicles.

TransUnion has released its latest Vehicle Pricing Index (VPI), showing that the South African car market is under sustained pressure in the third quarter of 2023 as the effects of fuel hikes, inflation, challenging economic conditions and load-shedding took their toll. The index measures the relationship between the increase in vehicle pricing for new and used vehicles from a basket of passenger vehicles incorporating 15 top-volume manufacturers.

According to data from TransUnion, the South African vehicle market faced significant challenges due to slower demand and tightening credit supply. Total financial agreement volumes in passenger vehicles decreased by over 8.4% from Q3 2022 to Q3 2023. This decline is attributed to low economic growth, frequent power cuts, and decreasing disposable incomes. This negative sentiment has made it difficult for industry players to generate demand for vehicles – new and used

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.
Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 24. in BR

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

South African Companies Increase Corporate Social Investment SpendingSouth African companies spent an estimated R11.8 billion on corporate social investment(CSI) in the 2023 financial year, reflecting an 8% nominal and 1% real increase from the previous year. This increase can be attributed to post-Covid recovery, low economic growth, and a challenging operating environment.
Fonte: ITNewsAfrica - 🏆 27. / 59 Consulte Mais informação »

South African Post Office's Business Rescue Plan Reveals Massive DebtThe business rescue plan for the South African Post Office (Sapo) shows a state-owned company that owes nearly R9 billion to creditors. Accumulated losses totalled R19 billion, with reported losses for the last 16 years. Assets are barely R4.4 billion.
Fonte: Moneyweb - 🏆 5. / 77 Consulte Mais informação »

South African Post Office Business Rescue Plan Endorsed by CreditorsThe South African Post Office (Sapo) business rescue plan has been endorsed by creditors, but it includes substantial job cuts. Economist Dawie Roodt discusses the financial feasibility and sustainability of the plan, which has received R2.4 billion from National Treasury.
Fonte: Moneyweb - 🏆 5. / 77 Consulte Mais informação »