Some price increases are imminent, like BMW, which according to one dealer is expected to hike prices by 9% across all its models, except the 5 Series, on June 1.
Importers Peugeot-Citroën, Suzuki, Renault, Volvo and Kia also anticipate price increases over the balance of the year but said it was difficult to quantify by how much.
Henno Havenga, Manager of Auto Dealer Sales at Suzuki SA, warns of possible double-digit price hikes in the coming months. Mercedes-Benz SA said the rand’s steep decline does lean expectation towards new car price increases across the board. The actual impact of the price increase will differ by OEM based on exposure to Forex rates as well as production status — full importer versus partial local production.
Ford and Porsche both said it was still too early to comment on potential price increases, while Nissan will continue to monitor the market movement to stay competitive and “will be making all efforts to support our customers in these extraordinary times”.A number of motor companies have recommenced car sales with special deals to reinvigorate customer interest.
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