In keeping with the clear demand for affordable quality used vehicles, Park Village Auctions (PVA) is set to host another car auction on May 17.
Says PVA’s Clive Lazarus: “The last car auction held at the beginning of this month achieved great figures across all ranges of vehicles, proving that buyers recognise auctions as a viable way to purchase the vehicles they desire.
“The industry has noted an increase in the demand for used vehicles with Trans Union’s South African Vehicle Pricing Index report revealing that 2.9 used vehicles are financed for every new vehicle financed.
“WesBank’s head of brand and communications Rudolf Mahoney has revealed an increase in the used-to-new ratio of vehicle applications from 2:1 in March 2015 to 2.4:1 in March 2017.
“The general consensus among all vehicle buying trend reports is that consumers in all market segments are exercising prudence and actively seeking value for money when buying cars.”
This is apparent from sales achieved at PVA’s last auction, where the R1-million mark was breached for a 2015 Range Rover Sport Super Charge with 25 201km on the clock. It reached R1.1 million and was followed by a 2015 Land Rover Discovery TD V6 with 45 679km on the clock which sold for an impressive R831 000.
By comparison, the lowest price paid for a car at the same auction was R55 000 for a 2014 Ford Ikon 1.6 Ambiente with 100 123 km on the odometer.
This represents excellent value for money in the lower or start-up market segment and proves that auction sales are active across the full spectrum of income categories, from upper levels to lower levels and those looking to purchase their first set of wheels.
Lazarus further notes that while buyers naturally seek affordability, PVA’s auctions remain popular due to quality assurance and variety which they are able to consistently offer through selling genuine bank repossessed vehicles.
The next auction will commence at 10.30am at the auction house’s Bank Repo Centre located at 221 Main Road, Martindale. A large collection of passenger, commercial and executive motor vehicles will be made available at this auction.
When and where:
Viewing will take place the day before from 9am to 4pm and interested parties can find more information at parkvillageauctions.co.za using web reference 12689.