VPI Q3 2020 Results
It’s been another challenging quarter for the global automotive industry as lockdowns are lifted and we adapt to the ‘new normal’. South Africa saw a gradual recovery in business and consumer confidence, new vehicle sales, finance applications and overall demand. As the industry continues to adjust to change, it would do well to build out opportunities through effective maintenance of and communication with existing clients.
“Overall, the global automotive industry has had another challenging quarter. In South Africa, it has been a quarter of gradual recovery in terms of business and consumer confidence, new vehicle sales, finance applications and overall demand. While the automotive industry is not yet out of the woods, the small gains made towards the end of the quarter off the back of record lows in Q2 is a real positive for the industry,”
– Kriben Reddy, Vice President: Head Consumer and Auto Information Solutions
Q3 2020 Vehicle Asset Finance Results
There’s been a rise in financing new and used vehicles over R300K over the past quarter — the highest since we started tracking in 2011. Despite lower overall volumes, we expect this positive trend to continue into the next quarter.
VPI Q3 2020: Insights
Unpack the most important facts, findings and insights held in this quarter’s infographic. Download our latest version here.