Lower income consumers are being priced out of the car market – TransUnion

TransUnion Africa CEO Lee Naik says a tough economic environment characterised by cost-of-living challenges, high fuel costs and currency depreciations have resulted in a notable decline in vehicle sales and financing in South Africa. However, while this contraction is expected to persist, manufacturers and dealerships are stepping up their efforts to help consumers enter, or re-enter the auto market, he notes.