Iemas looks at new vehicle sales for the year ahead and gives you advice on what to look for when buying a new vehicle
According to NAAMSA (National Association of Automobile Manufacturers of South Africa), there will be a major increase in local vehicle production in 2019. After a small improvement in new vehicle sales of 1.9% in 2017 – new vehicle sales dropped significantly by 1.0% from 552 190 units in 2018 compared to 557 703 units in 2017.
NAAMSA states that South Africa critically needs to achieve higher economic growth to fulfil its potential, address the many challenges confronting the country in terms of development and employment, and deliver on improving in the quality of life for all South Africans. A higher economic growth rate is essential to support higher domestic vehicle sales.
New vehicle sales forecast in 2019
According to NAAMSA: “At this stage, an improvement of around 1.0% in aggregate vehicle sales is projected. However, most automotive companies are planning their operations on the basis of a flat vehicle sales market in 2019. In addition, NAAMSA predicts 558 000 vehicles to be sold locally compared to the 552 190 vehicle sales achieved in 2018. Last year, the association predicted that 572 000 vehicle sales would be sold.
Is it time to look for a new ride? Here are a few things to keep in mind when considering buying a new vehicle in 2019:
Financing Your Vehicle
Many people make the mistake of not doing thorough research about vehicle financing options and end up taking the first vehicle finance option that comes their way. When you finance your new vehicle through Iemas you can finance your vehicle at a competitive interest rate and get rewards back at the end of each year through the annual Iemas rewards payment! Visit our website or contact us on: 0861 043 627 in addition, you can also use our convenient Iemas vehicle finance calculator to estimate how much you will be paying for vehicle finance each month.
When you buy a new vehicle you have to make sure that you have comprehensive vehicle insurance. Iemas Insurance Brokers, an authorised financial service provider (FSP 47563) and wholly owned subsidiary of Iemas Financial Services offers short-term vehicle insurance to cover you in case of those unfortunate incidents. Contact Iemas Insurance Brokers on: 0860 102 383 or visit www.iemasinsurancebrokers.co.za for more information.
Sourcing a New Vehicle
Finding your dream ride is all about matching your dream with your reality. Thus by using a supplier to source a vehicle on your behalf will make it easier for you to find the right vehicle at the right price. Iemas wheels is a convenient online platform that enables you to buy, sell or source a vehicle in no time! Visit Iemas Wheels today: https://www.iemaswheels.co.za
Read related blog here: Ways to save without cancelling your vehicle insurance or How to save even more money on fuel