Car dealers forced to give special deals as consumers continue to struggle
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GUEST - Thembinkosi Pantsi - National Vice Chairperson of the National Automobile Dealers Association
According to the National Automobile Dealers’ Association (NADA), the local automotive industry is experiencing “a notable shift”, with dealers now forced to take strategic steps to boost new-vehicle sales through “innovative trade support initiatives”. “This collaboration with [vehicle manufacturers] and importers, coupled with flexible financing options, is creating a dynamic environment for dealers and consumers alike.” Financial institutions are also playing a key role by offering financing up to 84 months, subject to certain criteria, with no balloon payments at the end.
According to the National Automobile Dealers’ Association (NADA), the local automotive industry is experiencing “a notable shift”, with dealers now forced to take strategic steps to boost new-vehicle sales through “innovative trade support initiatives”. “This collaboration with [vehicle manufacturers] and importers, coupled with flexible financing options, is creating a dynamic environment for dealers and consumers alike.” Financial institutions are also playing a key role by offering financing up to 84 months, subject to certain criteria, with no balloon payments at the end.
