Cost of living crisis is bad news for car buyers in South Africa

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Cost of living crisis is bad news for car buyers in South Africa
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Motorists are buying older cars and struggling with maintenance costs as pressure on households builds.

The cost of living crisis is driving up the risk of poor road safety as consumers buy older cars and struggle with maintenance costs, says Kate Elliot, the CEO of Right to Repair.

The cost of living continues to rise following an increase in interest rates by the South African Reserve Bank Monetary Policy Committee in September, by an additional 75 basis points – the fifth consecutive increment since November 2021, said Elliot. An amendment in 2014 to Regulation 138 of the National Road Traffic Act was meant to prescribe that vehicles older than 10 years be tested every two years, however, to date this has not been enforced and vehicles are still only required to have a statutory roadworthy test on change of ownership.

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BusinessTechSA /  🏆 24. in ZA

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