VPI Q3 2021 Results
Despite lockdown restrictions having eased, the global and local automotive industry had another challenging quarter — with South Africa seeing looting and burning of dealerships and stores, rising unemployment, an unfavourable exchange rate, reduced disposable income, diminished stock of quality used vehicles, and chip shortages interrupting new vehicle supply.
“There’s no doubt that the real story for the quarter is the huge shift in pricing patterns in the past year, which is being driven by a combination of changing consumer demand and supply issues in the new car market, where the global computer chip shortage continues to affect motor manufacturers. As a country, we import around 70% of our cars, so we’re definitely feeling the effects of the shortage – and there’s no clear end in sight.”
– Kriben Reddy, Head of Auto Information Solutions
Q3 2021 Vehicle Asset Finance Results
The over R300k band remains highest since we started tracking in 2011 — a positive sign going into the next quarter, albeit at lower volumes.
VPI Q3 2021: Insights
Unpack the important facts, figures, findings and insights in this quarter’s infographic.