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More and more new cars take to the road
Standard Bank Team
Super Contributor
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With interest rates in South Africa at their lowest in 30 years, it’s not surprising that the number of new cars sold is still on the increase. But, that’s not to say that rising fuel prices, higher food prices and the general pressure on people’s pockets aren’t having an impact on the car market.

Figures coming out of Standard Bank South Africa’s vehicle finance area show that there was a 4.1% rise in new cars sold in the first three months of this year, compared to the same period in 2012. That’s 163 092 more!

That said, there is a change in what people are buying. Much smaller engine capacities and more efficient cars are currently the choice of in the market for a new car.

While smaller cars have remained below the R200 000 price mark, they boast the extras and safety standards of mid-range cars, along with the added bonus of having better fuel consumption.

It can be said that South Africans are spending more wisely with a long-term view to avoid rising fuel prices and turning towards environmentally-friendly transport by choosing cars that burn less fuel.

Do you agree with our conclusion?

For more on Standard Bank’s vehicle and asset facilities, visit www.standardbank.co.za/vaf.
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19 Comments
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Kenneth Howze
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David Lugo
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Thanks for the interesting article. I think the increase in the number of cars on the road is primarily due to the fact that interest rates in South Africa are the lowest in 30 years and residents are buying cars for themselves as a means of transportation. By the way, by 2050 there will be twice as many cars on the world's roads as today, over the next 30 years at least 1.2 billion cars will be added, the World Bank analysts calculated. And these machines will be concentrated practically in one macro-region of the globe. I gathered this information from posts on Instagram in which the authors talk about cars and their distribution. There you can find a lot of such posts, and almost always they are posted by accounts to which about 38 thousand subscribers have subscribed. I am sure their authors use the services of http://soclikes.com/ in order to wind up their number.

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