VPI Q2 2021 Results
The global automotive industry had another challenging quarter with lockdown restrictions and temporary closures. The South African market faces its own trials with political and civil unrest. Business continuity is uncertain in light of Covid-19’s third wave, intermittent lockdowns, increased unemployment, a negative exchange rate, lower GDP growth and added pressure on disposable income.
Overall, the market has shown signs of recovery from last year, but new obstacles await. The next six months will be interesting for the automotive sector as the effects of consumer uncertainty and disrupted supply chains will inevitably delay purchases, which will cause dealers to rethink their approaches and seek alternative streams of income.”
– Kriben Reddy, Head of Auto Information Solutions
Q2 2021 Vehicle Asset Finance Results
The more than R300,000 band remains the highest since we started tracking in 2011 — a positive sign going into the next quarter, albeit with lower volumes.