Car prices are on the rise in South Africa – here’s what people are paying
Subscribe
The South African automotive industry faces a challenging 2021, with new vehicle prices continuing to climb well above the inflation rate in a market already severely constrained by the financial effects of the Covid-19 pandemic.
This is according to the latest TransUnion SA Vehicle Pricing Index (VPI), which shows vehicle prices rose above the inflation rate for the third successive quarter in Q4 2020 at a time when consumers are financially constrained and many car dealers are battling to stay in business.
TransUnion publishes the VPI on a quarterly basis. The vehicle risk intelligence company calculates the VPI from data it receives on monthly sales returns from thousands of dealers throughout the country, as well as vehicle financing registrations from all of the major banks and vehicle finance houses.