Following months of lower-than-expected vehicle sales, the industry has once again returned to positive growth with April figures released by National Association of Automobile Manufacturers of South Africa [Naamsa] showing that 266 more units were sold during the month compared to the previous year.
This is good news according to vehicle auctioneer Roy Lazarus of Park Village Auctions as it represents welcome stimulation for the entire automotive supply chain including dealers, banks and ultimately auctioneers.
The entire industry accounts for 6.9% of the country’s GDP, with the retail segment accounting for a staggering 2.5% on its own with most of these sales requiring bank finance.
“The more vehicles financed means more vehicles will become available on auction either as a result of repossession or the disposal of vehicles that have been replaced with new ones. A knock-on for the consumer is that more cars are becoming available on auction,” said Lazarus.
Park Village Auctions is one of the largest auctioneers of repossessed vehicles and holds regular auctions from its dedicated warehouse in Martindale in Johannesburg, as well as regional warehouses in the major centres of South Africa.
The next auctions will be in Martindale on June 5 and 19.
For all auction related information, contact Park Village Auctions on (011) 789 4375 or go to www.parkvillageauctions.co.za