INSIDE YOUR POCKET – Average car prices now stand at R396,000

Loading player...
GUEST - Lee Naik, CEO of TransUnion Africa
The findings show that:
In Q4 2023, the average loan value increased to R396,000, up from R386,000 in Q4 2022.
This 2.5% average loan value growth comes off the back of CPI of 5.1% in December 2023 and a new vehicle price increase of 6.3% (Q4 2023 vs. Q4 2022).
The used-to-new ratio of vehicles being financed shifted from 1.98 in Q4 2022 to 1.2 in Q4 2023.
The industry is evolving as consumers are benefiting from the introduction of new subscription-based and ‘vehicle on demand’ models and services.
Overall, the macroeconomic climate remains incredibly challenging for consumers and continues to affect buying power and spending habits.
EXPLAINER - PUBLIC TAKEOVERS IN SOUTH AFRICA
2 May 2024 5PM English South Africa Business News · Investing

Other recent episodes

Jetour T2 Makes History: How a Newcomer Won SA Car of the Year

For the first time in 40 years, a Chinese brand has taken South Africa’s top automotive honour. The Jetour T2 beat 55 contenders to win Car of the Year 2026. Vice President for Jetour South Africa Nic Campbell explains what set the T2 apart, why Chinese brands are rising so…
5 Jun 5AM 11 min

Retail Rebound: NIQ Unpacks SA’s Surprising Q1 Consumer Surge

South Africans spent R173.6 billion on FMCG goods in Q1 — with volumes up 9.1%. Snacks, beverages and tobacco surged, while baby food and care declined. NIQ’s Lané Klopper breaks down the drivers behind the rebound, the rise of traditional trade, and why inflation may tighten the screws again in…
5 Jun 5AM 12 min

Canal+ Lists on the JSE: What It Signals for SA’s Capital Markets

JSE Capital Markets Chief Helina Andhee breaks down the significance of Canal+’s new listing and what it reveals about South Africa’s evolving listings environment. We explore liquidity, innovation, delistings vs. new entrants, and the JSE’s strategy to attract global issuers in a competitive capital markets landscape.
3 Jun 3PM 15 min

Beyond the Rate Hike: Fuel Shocks, Credit Stress & SA’s Financial Fragility

TransUnion Africa CEO Lee Naik analyzes how rising rates, fuel spikes, and deepening credit stress are reshaping household finances. We unpack a 14% collapse in fuel buying power, soaring non‑bank loan delinquencies, and why the new withdrawal system may offer less relief than expected. A data‑driven guide to absorb, adapt,…
3 Jun 3PM 13 min

Can BRICS Absorb SA’s Confidence Shock? Advocate Xulu on Trade

BRICS Business Council’s Advocate Mtho Xulu joins us to discuss South Africa’s widening BRICS trade deficit, the urgent need to shift from raw exports to value-added manufacturing, and whether BRICS-Plus markets can help offset domestic demand weakness. A strategic look at SA’s place in a rapidly shifting global trade environment.
3 Jun 2PM 11 min