With their incomes being slashed, car lovers are doing smart trade-ins and going for cheaper models
South Africans feeling the financial squeeze of about 50 days of lockdown are looking to trade in expensive rides.South Africans are feeling the financial squeeze of about 50 days of lockdown and car dealerships are bracing for a flood of trade-ins as citizens look to stretch their rands further.
The survey, run during the first week of May, was aimed at plotting buying patterns ahead of the reopening of car dealerships. “Currently I have a car and so does my wife, but with everything that has happened with the lockdown and the likelihood that it may continue until the end of the year, we really don’t need more than one,” he said.
“Searches for secondhand vehicles under R50,000 have increased by almost 300% versus normal pre-lockdown levels,” he revealed.Moreover, even the well-heeled were looking to contain costs.Anecdotal feedback from dealers trading on AutoTrader reveals that motorists are trading down from a BMW X5 50D to a BMW 520d .
Initially, automotive dealers could only carry out emergency vehicle repairs under level 4, with vehicle sales only allowed again under level 3 and routine servicing under level 2.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SA lockdown: Stranded Zimbabweans want out of SALocked in with no job, income or transport to return home. This is the situation many foreigners are finding themselves in.
Read more »
FREE | Join Peter Bruce in conversation with top dogs at financial institutions on post-lockdown SAJoin Peter Bruce in conversation with top dogs at financial institutions on post-lockdown SA
Read more »
Lockdown level 3 looms — here's what you could expect, SACigarettes and limits on outdoor exercise remain unclear.
Read more »
IN FULL | Ramaphosa's address to SA: We're ready for lockdown easingPresident Cyril Ramaphosa addressed SA on Wednesday night announcing, among other things, that most of the country would be on level 3 of the lockdown by the end of May and that easing of parts of the economy under the current level four restrictions would be announced in the coming days.
Read more »
SA Lockdown: Mbalula takes aim at Rea Vaya bus servicesTransport Minister Fikile Mbalula says lockdown regulations are not being adhered to.
Read more »
Freedom of Religion SA wants review of lockdown rules for worshippersIt said a moratorium on religious gatherings, even at the lower levels of the country's Covid-19 lockdown, was 'grossly unfair' and called for a review of the decision.
Read more »