Vehicle sales across Audi, Mercedes-Benz, & BMW have more than halved in the last decade.
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GUEST - Brandon Cohen – Chairperson: National Automobile Dealers' Association (NADA)
The premium vehicle segment in South Africa is set to face significant challenges as sales drop due to the weak economy, high interest rates, and soaring fuel prices. As a result, many South Africans are avoiding premium cars and opting for the new wave of Chinese vehicles entering the market.
Aggregate new vehicle sales during the first quarter of 2024 recorded a decline of 5.6% compared to the corresponding quarter of 2023 and a marginal increase of 0.2% compared to the fourth quarter of 2023.
The premium vehicle segment in South Africa is set to face significant challenges as sales drop due to the weak economy, high interest rates, and soaring fuel prices. As a result, many South Africans are avoiding premium cars and opting for the new wave of Chinese vehicles entering the market.
Aggregate new vehicle sales during the first quarter of 2024 recorded a decline of 5.6% compared to the corresponding quarter of 2023 and a marginal increase of 0.2% compared to the fourth quarter of 2023.