New car sales rise above inflation in the fourth quarter
By Edward West
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CAPE TOWN - NEW VEHICLE prices continued to climb above the inflation rate in the fourth quarter of last year, adding to what will be a challenging 2021 for the automotive industry.
In a market constrained by the financial effects of the Covid-19 pandemic and many motor dealers struggling to remain in business, the latest TransUnion SA Vehicle Pricing Index (VPI) showed vehicle prices rose above the inflation rate for the third successive quarter in the past three months of 2020.
TransUnion Africa auto information solutions vice-president Kriben Reddy said yesterday that this trend could indicate further car price increases in 2021.