Need a new vehicle? Then buy now, because car prices are set to spike

Importers Peugeot-Citroën, Suzuki, Renault, Volvo and Kia also anticipate price increases over the balance of the year but said it was difficult to quantify by how much.

Henno Havenga, Manager of Auto Dealer Sales at Suzuki SA, warns of possible double-digit price hikes in the coming months. Mercedes-Benz SA said the rand’s steep decline does lean expectation towards new car price increases across the board. The actual impact of the price increase will differ by OEM based on exposure to Forex rates as well as production status — full importer versus partial local production.

Ford and Porsche both said it was still too early to comment on potential price increases, while Nissan will continue to monitor the market movement to stay competitive and “will be making all efforts to support our customers in these extraordinary times”.A number of motor companies have recommenced car sales with special deals to reinvigorate customer interest.

Maybe it's a good thing, we don't need more cars.

Buying a brand new car has never been a smart thing to do.

Who will buy with what?

I can still negotiate the price. They desperately need the business and I'm not in a rush to buy the car. Let's see who's winning.

Ok increase prices when people are losing jobs, who’ll afford your cars in these times anyway

Why must we worry about price increases of luxuries, they can make 100% if they want to

Hayi I'm not too sure about this. Price is, inter alia, a function of demand and supply, and vehicle prices have historically dropped during recessions and economic downturns. We have recent evidence, during the 2008 global financial crisis. I'm not sure about this article 🤔

What for why prize hikes is salaries hiked now your dealership is insane they are used to this thing of robbing south afrikans boycott their cars

They can keep hiking prices. We no longer care. Who need a new car under Lockdown restrictions.

I don't think that 9% is crazy in these difficult times. I'm gonna go out there and get myself two new 5 Series' since its price is not going.

Must be very brave to buy a car now. Unless of course you loaded

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