The average consumer in South Africa is in a desperate and highly indebted position, which is significantly denting their intent to purchase either a new or used vehicle plus other products. This was one of the major themes to emerge from a webinar and panel discussion last week about the Deloitte 2023 South African Automotive Consumer Study.
According to Deloitte global automotive research leader Ryan Robinson:
About one in four consumers in South Africa is concerned about making coming payments; ยท
More than two-thirds of consumers are concerned about the amount of money they have saved; and
Almost one in four consumers is concerned about the amount of credit card debt they are carrying. Kaya FM