More South Africans are buying cars than in the first quarter of the year. The coronavirus pandemic affected a lot of industries, including the motor vehicle industry.
More South Africans are buying cars than in the first quarter of the year.
The coronavirus pandemic affected a lot of industries, including the motor vehicle industry.
With many people losing their incomes, vehicle sales dropped.
But, as many industries are picking up, the vehicle industry is also improving.
According to News24, the new vehicle market bounced back during August 2021 after being unsettled by a barrage of impacts during July.
The publication reports that August's new vehicle sales were the second highest this year at 41,425 units.
However, the challenge is that the market is outrunning the industry's ability to supply.
This is a result of the challenges posed by COVID-19, including microchip shortages affecting international production.
Buying a new car
If you are one of those planning to buy a car, it is important that you look at the following factors:
Maintenance cost - It is not only about the monthly repayments, but you need to also consider how much you will need to pay for things that are not covered by your insurance such as tyres, disc renewal or replacing any other parts on the car.
Car service - You will also need to consider how much the service for the car will cost you. Most new cars come with service plans for five years, but if you are going to buy a second-hand car, you might need to look at how much it will cost you.
Fuel - It is also important to take into consideration how much fuel your car will need and the insurance.
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