Motoring

Strategic incentives drive new vehicle sales, NADA reports

The market dynamics, evolving rapidly, showcase dealers’ adaptability to meet changing demands, creating a dynamic and flexible environment for both consumers and industry players, as this index indicates.

As the South African automotive industry witnesses a transformative shift, the National Automobile Dealers Association’s (NADA) chairperson, Brandon Cohen, highlights innovative initiatives to stimulate sales.

TransUnion’s Q3 vehicle price index underscores changes in consumer preferences and economic constraints, prompting dealers to collaborate with OEMs, offer flexible financing options and introduce attractive incentives.

“Data from TransUnion indicates that new vehicle prices increased from 5.8% in Q3 2022 to 6.5% in Q3 2023. Despite the higher recommended retail pricing, dealers are adopting pragmatic strategies, responding to market forces that dictate the final sale price, often significantly divergent from the list price,” says TransUnion.

Source: MotorPress

 

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