The South African car market showed signs of resilience in the third quarter of the year as it bounced back from an all-time-low second quarter to record month-on-month increases in the number of new and used cars financed in August and September, this according to the latest TransUnion South African Vehicle Pricing Index (VPI). While total financial agreement volumes in the passenger market showed an expected 21% year-on-year decline from the third quarter last year, the market overcame rising vehicle prices, difficult trading conditions and uncertainty to record 35% and 45% month-on-month increases in August and September respectively, albeit off a low base.
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