‘Affordable, safe’ place to buy a car is at an auction

Selection of vehicles to go under the hammer on Wednesday

FORECASTS for 2017 suggest another difficult year for the local motor industry.

High prices for new vehicles, a sluggish economy, increasing petrol prices and pressure on household disposable income are making it more difficult for the average South African to afford a new car fresh off the showroom floor, according to auctioneer Clive Lazarus.

Lazarus, of Park Village Auctions, said a report recently published by the National Association of Automobile Manufacturers of South Africa reported a double-digit decline in annual domestic sales.

Sales of passenger, light, medium and heavy commercial vehicles have fallen by 11.4%, according to the report.

Boosting the prospects for the used-car market in 2017 was an increase in demand.

WesBank said finance applications for used vehicles had increased by 3.4% towards the end of last year.

Lazarus said buyers should CARS GALORE: Things are looking up for the car auction market consider car auctions.

These represented “a genuine, safe and affordable platform from which to buy a car”, he said.

“This is particularly pertinent in a market where consumers need the assurance of knowing that their hard-earned money is being well spent.

“Discerning consumers know that when times are tough, there is real value to be had at auctions and that many of the most desirable brands will be available at good prices.”

While it had been predicted that local sales would regain some traction in the second half of 2017, relatively high interest rates, averaging between 13% and 14.5% looked set to remain, he said. This would further motivate purchases at auctions.

Repossessed passenger, commercial and executive vehicles will go under the hammer on Wednesday from 10.30am.

The auction will take place at PVA’s Bank Repossession Centre on 221 Main Road, Martindale, Johannesburg.

Interested bidders can view the vehicles the day before between 9am and 4pm at the same location.

For auction-related information, contact Park Village Auctions on (011) 789-4375 or go to www.parkvillageauctions.co.za