{"id":655315,"date":"2023-01-15T15:00:48","date_gmt":"2023-01-15T13:00:48","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=655315"},"modified":"2023-01-13T16:39:46","modified_gmt":"2023-01-13T14:39:46","slug":"the-cars-you-can-afford-with-your-salary-in-south-africa-at-the-start-of-2023","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/lifestyle\/655315\/the-cars-you-can-afford-with-your-salary-in-south-africa-at-the-start-of-2023\/","title":{"rendered":"The cars you can afford with your salary in South Africa at the start of 2023"},"content":{"rendered":"

South Africa’s new-vehicle market continued its gradual recovery in 2022, with twelve consecutive months of year-on-year growth.<\/p>\n

According to the National Association of Automobile Manufacturers of South Africa (Naamsa), new-vehicle sales across the passenger, light-commercial, medium-commercial, and heavy truck and bus segments totalled 528,963 units in 2022 \u2013 rising by 13.9% when compared to 2021.<\/p>\n

In the last month of 2022, 41,783 new vehicles were sold – recording an increase of 5,839 vehicles or a gain of 16,2% compared to the total of new vehicle sales of 35,944 units during the corresponding month of December 2021, said Naamsa.<\/p>\n

However, despite these positive numbers, new vehicle sales in 2022 are still 1.4% below the 536,612 units sold in 2019. Naamsa and the world’s No.1 automaker Toyota expect further near-term global supply chain disruptions to the new vehicle market in South Africa.<\/p>\n

TopAuto reported that Toyota said its outlook for 2023 remains uncertain due to a persistent shortage of semiconductors and spikes in Covid cases in China.<\/p>\n

Chip and other auto part shortages continue to plague the industry, and the rapid expansion of Covid cases throughout China will present additional difficulties, reported TopAuto.<\/p>\n

Naamsa added that just as pandemic-induced disruptions seemed to subside in early 2022, the Russian invasion of Ukraine dealt a further blow to business and consumer confidence globally and in South Africa.<\/p>\n

“The geopolitical conflict in Ukraine resulted in further supply chain disruptions and have inflated prices and the availability of strategic products and inputs.”<\/p>\n

In 2023, motorists will grapple with increasingly more expensive cars due to these national and international headwinds.<\/p>\n

Industry experts still recommend that prospective buyers shouldn’t spend more than a quarter (25%) of their monthly income on vehicle-related costs. So, if you earn R20,000 per month, your total vehicle expenses should not exceed R5,000. And this should apply to the whole vehicle expense, including:<\/p>\n