New data provided by Transaction Capital’s interim results show the average age and price of a second-hand car sold by the retailer, WeBuyCars.
Transaction Capital added that the outlook for the used vehicle market in South Africa is resoundingly positive. WeBuyCars pointed to the affordability and the effects of Covid-19 on consumers’ disposable income as indicators of why used car sales have improved. The company added that banks have also put liquidity into the used vehicle market as they seek growth.
“The microchip shortage and supply chain disruptions, which have been exacerbated by the Russia-Ukraine war, continue to affect the global supply of new vehicles, providing an added tailwind for the used vehicle sector,” said WeBuyCars.
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