Asian vehicle makers grab market share in SA as inflation accelerates

European and US car brands have lost ground to Asian competitors in SA’s new and used vehicle markets since the start of the Covid-19 pandemic, as cash-strapped consumers seek to reduce their debt burden, a study by Absa Vehicle and Asset Finance suggests.

In the first quarter of 2022, European and US brands saw their share of the used-vehicle market shrink to 59% from 62% in 2019, before Covid-19 hit. The drop was more pronounced in the new-vehicle market, from 45% to 37%...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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