Car prices are on the rise in South Africa – here’s what people are paying
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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.
Research and Markets: United Kingdom Used Car Finance Market Insight Report 2021 - ResearchAndMarkets.com
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The report focuses on the UK market for secured consumer finance for used/second-hand cars.
It also includes agreements for used motorcycles, vans and leisure vehicles (e.g. campervans) however cars represent over 95% of the relevant consumer market.
Secured loans are defined as those where the ownership of the vehicle rests with the lender during the life of the agreement.
The report excludes unsecured personal loans that some consumers may use when buying a car, which the publisher believes is now a relatively minor form of car finance.
Federal Government Vehicle Finance Scheme for Nigerians - How to benefit, eviritin to know
10 February 2021
Wia dis foto come from, @innosonvehicles
Nigeria goment don announce plans to launch one new scheme wey go help kontri pipo buy new cars.
Dem call di scheme Vehicle Finance scheme and na part of di five point comprehensive programme of di National Automotive Industry Development Plan (NAIDP).
Dia plan na to promote local production of vehicles and dia parts.
Dis new scheme according to di National Director-General of the National Automotive Design and Development Council (NADDC), Jelani Aliyu, na for pipo wit sustainable source of income to dey able to acquire di car of dia choice.
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The two-wheeler industry in Bangladesh has grown significantly because of the demographic dividend, higher purchasing power, the growing economy, and the rising popularity of ridesharing services in the country.
In cities like Dhaka, traffic-congested roads make two-wheelers the only time- and cost-efficient mode of transport. Bangladesh 2W industry is driven by international brands; however, local brands have begun competing with international brands and are striving to gain market share.
The government has been supporting the international brands to set up manufacturing plants in the country, which would help the OEM as well as the consumers in terms of reducing operational cost and the overall cost of the vehicle.