VPI Q4 2020 Results
Overall, the global automotive industry has had another challenging quarter with lockdown restrictions and temporary closures. The digital shift is set to revolutionise the vehicle buying cycle and dealers need to rapidly adapt to the “new” customer, using online tools to sell vehicles as they did before the COVID-19 crisis. 2021 is expected to be another challenging year, with new vehicle prices set to remain high vehicle sales set remain low early in the year. However, consumer and business confidence are anticipated to increase from record lows.
““This is a tough time for dealers, and 2021 will still be a challenging year. We are confident that we will see an increase in vehicle sales over 2020, but the real reference will be how quickly we can recover to 2019 levels,”
– Kriben Reddy, Head of Auto Information Solutions
Q4 2020 Vehicle Asset Finance Results
The over-300,000 band is the highest since we started tracking in 2011, a positive sign going into the next quarter, albeit at lower volumes.
VPI Q4 2020: Insights
Unpack the most important facts, findings and insights held in this quarter’s infographic. Download our latest version here.
Stay on top of recent vehicle pricing trends with our latest press release. TransUnion’s Q4 2020 Vehicle Pricing Index Indicates an Advantageous Market for New Vehicle Purchasers in South Africa