A recent poll conducted by BusinessTech, which had a total of 7,500 responses, found that a bunch of South Africans are considering to buy a new car despite financing a car becoming more expensive due to high interest rates.
More new cars are being sold in South Africa, with some consumers wanting to grab a new ride before the year ends.
761 people said that they had bought a brand-new car this year, and 752 said that they had purchased a second-hand car, reported the poll. Naamsa reports that domestic sales of new light commercial vehicles, bakkies, and minibuses increased by 1,590 units from 11,148 vehicles sold in October 2021 to 12,738 units sold in October 2022, or 14.3% more than the same month the previous year.
If you are making your purchase choices responsibly because it is what you can afford rather than what you desire, you are making the best life choices, said Mogatusi.Based on the assumption that consumers don’t spend more than 25% of their gross monthly income on auto loans, BusinessTech examined what you can afford to buy with your monthly wage.
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.
South Africa: Are Red Flags About Islamic State in South Africa Alarmist?Analysis - Recent United States' actions suggest a lack of confidence in South Africa's ability to deal with terrorism.
Read more »
Africa: Announcement on Team Energy AfricaNovember 10, 2022 - After reviewing its relationship with some of the private sector partners in Team Energy Africa, ECA has decided to cancel the initiative with immediate effect. The ECA is committed to working with the private sector to improve energy access through renewables across the African continent, and to deliver a just energy transition and will engage with a wide range of stakeholders to review the best mechanism to allow this to happen.
Read more »
Crime syndicates are crippling South Africa: reportCrime syndicates hitting South African SOEs, such as Transnet and Eskom, are crippling the country’s economy. Here are the latest incidences.
Read more »
Suspected sabotage costing South Africa R1 billion a dayTransnet Freight Rail is investigating suspected sabotage along its main coal line.
Read more »
South Africa must move with speed to implement its climate planSouth Africa unveiled an initial five-year Just Energy Transition Investment Plan (JET IP) at the UN's COP27 climate conference in Sharm El-Sheikh, Egypt, with a goal of decarbonising the economy in line with Nationally Determined Contributions by 2030.
Read more »
South Africa: Ethekwini Flooded With Sewage Due to Treatment Plant FailuresExperts and political parties have accused the municipality of minimising the enormity of the sewage pollution
Read more »