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Used car sales are booming - and prices are skyrocketing

17 January 2022 7:35 PM
Tags:
The Money Show
Bruce Whitfield
We Buy Cars
Faan van der Walt
new vehicle sales
used vehicles
used car sales

The Money Show’s Bruce Whitfield interviews We Buy Cars founder Faan van der Walt.

Manufacturers sold 464 122 new vehicles in South Africa in 2021, up 22.1% over 2020.

The National Association of Automobile Manufacturers of South Africa (Naamsa) expects vehicle sales to increase by 8% this year.

Second-hand car sales are also on the up.

Image credit: prostooleh (123rf)

The Money Show’s Bruce Whitfield interviewed We Buy Cars founder Faan van der Walt (scroll up to listen).

[Used] cars are getting more expensive...

Faan van der Walt, founder - We Buy Cars

We expect an uptick in new vehicle sales as supply chain issues are resolved… There are so many [new] models that are desirable but simply not available…

Faan van der Walt, founder - We Buy Cars

There were over 1.5 million used vehicle registrations in 2021… A shift from new to used, but we expect that to shift back…

Faan van der Walt, founder - We Buy Cars

We’re going international… We looking to open in Morocco and Egypt soon… I’m very conservative… Once it’s proven we can ramp up quickly…

Faan van der Walt, founder - We Buy Cars

This article first appeared on CapeTalk : Used car sales are booming - and prices are skyrocketing




17 January 2022 7:35 PM
Tags:
The Money Show
Bruce Whitfield
We Buy Cars
Faan van der Walt
new vehicle sales
used vehicles
used car sales

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