Breaking Stories
The National Automobile Dealers’ Association has welcomed the recent decline in South Africa's annual consumer price inflation to 4.6% in July, the lowest level in three years. The association believes this positive development will benefit consumers and businesses alike.
For consumers, a potential interest rate cut by the South African Reserve Bank in September could lead to more affordable financing options for purchasing vehicles. Lower interest rates would reduce monthly instalment costs, making it easier for South Africans to invest in new and used cars. Coupled with lower fuel prices, this could significantly enhance the overall affordability of vehicle ownership.
This, in turn, would drive sales and support the growth of the industry. Businesses that rely on fleet vehicles would benefit from reduced operating costs due to lower fuel prices and more favourable financing terms. 'This positive economic outlook could lead to increased activity within the automotive market, creating opportunities for dealerships to expand their customer base and improve sustainability,' said Brandon Cohen, Chairperson of NADA. 'NADA remains optimistic that these developments will contribute to a more vibrant and resilient automotive industry in South Africa.'
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Zimbabwean Rancher Shocks South African Auction With Record-Breaking Purchase Of Prized BullSouth African and global news updates with a twist. 2oceansvibe is South Africa’s biggest solely owned online news platform with local and world news updates.
Read more »
Consumer inflation slows, but BAD news for rice and coffee lovers in South AfricaInstant coffee, rice and eggs showed the biggest increase in prices over the last 12 months according to the Stats SA website.
Read more »
The biggest consumer complaint in South AfricaFrom March 2023 to February 2024, CGSO recovered over R12.13 million for South African consumers.
Read more »
Eskom price hikes are wrecking South African householdsThe vast majority of South Africans are facing difficult choices as Eskom and municipalities implement double-digit electricity price hikes each year.
Read more »
How Wingu Academy prepares South African learners for higher educationWingu Academy is the ideal online school thanks to its excellent Grade 7-9 curriculum.
Read more »
East African countries endorse Odinga as AU Commission chair - SABC News - Breaking news, special reports,President William Ruto says this is a historic moment for Kenya.
Read more »