The SA Vehicle Industry Thread

FiestaST

FiestaST

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"The decline in economic growth, combined with an interest rate hike, has negatively affected South Africa’s new vehicle sales, reports the National Association of Automobile Manufacturers of South Africa (Naamsa)

Sales of new vehicles during August declined 8.2% (year-on-year). This follows the 6%. decrease recorded in July 2015."

http://www.wheels24.co.za/News/SA-car-sales-Dismal-Rand-takes-its-toll-20150902

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Anyway....

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More worrying factors like car prices are high, unemployment is high and job security is low.
 
"The sharp uptake in balloon payments is concerning. People are using this as a measure to make monthly instalments more affordable, but my best advice is to choose a more affordable car and avoid a balloon altogether.”
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We have the Wesbank CEO saying this, but most people still think they know better. Zero sympathy from me for people who are in debt because of a car...
 
Amusing part in those graphs, the sales of "passenger" aka "affordable cars" are down, but LCV (light commercial vehicles) are up? LCV = Ford Rangers / Hiluxes which we all know are considered passenger vehicles these days.

Am i missing something?
 
diabolus said:
Amusing part in those graphs, the sales of "passenger" aka "affordable cars" are down, but LCV (light commercial vehicles [riiiight]) are up? LCV = Ford Rangers / Hiluxes which we all know are considered passenger vehicles these days...

Am i missing something?
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Not all of those Rangers and Hiluxs are double cabs. In fact, many are single cabs used by businesses.
 
Mike Hoxbig said:
We have the Wesbank CEO saying this, but most people still think they know better. Zero sympathy from me for people who are in debt because of a car...
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They should stop offering balloon if they are so concerned about its impact on people.

"The sharp uptake in balloon payments is concerning.
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Its only concerning because it will potentially increase their risk of defaulting customers down the line.....
 
New cars prices are simply too expensive irrespective of the state of the rand and the economy. Residual was a tool invented to allow manufacturers to keep raising prices, and keep sales high at the same time. Now they have reached a point that car prices are even too high despite residuals being available. Would love to see the new debt mechanism they come up with to allow people to keep buying cars they cannot afford.
 
Galactica said:
They should stop offering balloon if they are so concerned about its impact on people.
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ToxicBunny said:
Its only concerning because it will potentially increase their risk of defaulting customers down the line.....
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This. Banks want reliable spenders, not spenders who are on the brink to such an extent that an interest rate change can make them default on payments.

Balloons do have a place for people who know how to make use of it - unfortunately many South Africans don't fall within this category...
 
ambroseg1 said:
New cars prices are simply too expensive irrespective of the state of the rand and the economy. Residual was a tool invented to allow manufacturers to keep raising prices, and keep sales high at the same time. Now they have reached a point that car prices are even too high despite residuals being available. Would love to see the new debt mechanism they come up with to allow people to keep buying cars they cannot afford.
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^This. New cars have been way overpriced for decades - especially considering that the majority are locally manufactured.
 
akescpt said:
imagine they lower the prices. stop laughing. I said 'imagine'.
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I think the best we can hope for is that they will increase prices by smaller margins, while they wait for inflation to catch up...
 
Mike Hoxbig said:
I think the best we can hope for is that they will increase prices by smaller margins, while they wait for inflation to catch up...
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They are so far ahead with new car prices, inflation will never catch up unless car prices remain stagnant for at least 5-7 years.
 
Mike Hoxbig said:
I think the best we can hope for is that they will increase prices by smaller margins, while they wait for inflation to catch up...
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Perhaps this and add lots of 'service' deals on to it which will still allow them to up the ante when things improve ;)
 
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