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Clarence Ford interviews George Mienie, CEO of AutoTrader, and Kate Elliott, CEO of Right to Repair.
South Africans are increasingly finding it hard to afford a car, never mind keeping up with the expenses of owning one.
As cash-strapped motorists skimp on upkeep, they may find themselves in even bigger trouble because of our roads - which aren't in nearly a good condition as they should be, and may soon get even worse.
If you can’t pay for bread and milk… you’re going to skip on [vehicle] maintenance… Older cars are more dangerous…
Kate Elliott, CEO - Right to Repair
RELATED: How to buy a new car – even if you can’t afford the monthly payments
With interest rates expected to rise considerably, buying a new car may not be a priority for most people.
As a result, the used-car market is booming, and prices are skyrocketing in response.
We know what people are shopping for… We’ve seen a very buoyant used-car market… Consumers are still buying cars…
George Mienie, CEO - AutoTrader
Mienie does not expect the current market conditions to last much longer than a year.
I think this used car bubble might burst in about 12 months... Prices of used cars will begin to fall…
George Mienie, CEO - AutoTrader
RELATED: Tips for buying a second-hand car for less than R80 000
The average age of a vehicle listed by AutoTrader is five years.
The company has seen a reduction in listings of late as people hold on to their cars for longer.
Ford interviewed Mienie and Elliott – scroll up to listen.
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