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New cars back in vogue Fin24

Johannesburg - New car sales made up more than half of South Africa's automotive sector sales in February, reversing the trend of the past 12 months in which used cars kept the market afloat.

Motor trade sales increased by 9.1% in February 2010 to R28.4bn, according to Statistics South Africa. New vehicle sales - together with fuel sales, which are included in the data gathering along with any revenue generated by the car industry - were the major contributors to this rise.

February's numbers are evidence that the recovery of South Africa's new car market is in place. It is the second month in a row in which the new vehicle contribution made up more than half of the total increase.

New vehicle sales figures from the National Association of Automobile Manufacturers SA (Naamsa) showed a 22% jump in new vehicle sales for March compared to the same month a year ago, providing further support to the upward trajectory.

Meanwhile, one of South Africa's biggest motor finance providers, Wesbank, said that loan applications support a trend of increased popularity of new cars over the second hand alternative.

WesBank Car Finance

WesBank car finance for people who need a loan to buy a new or pre-owned vehicle is a great choice from a wide offering of products to choose from in South Africa. No matter if you are looking to be able to buy a car, bike, boat or a caravan, WesBank have over 40 years of experience in the market and have turned that experience into expertise. It is easy and convenient to apply online through the use of the available forms which save the applicant the hassle of physically having to go to one of the offices or spending money on long phone calls while a consultant takes down personal details and requirements from a customer.

Repossessed car finance is available through WesBank and over 100 bank repossessions are sold at the auctions every week at which visitors can view vehicles on the day before the auction begins. Registration fees are required in order to be able to participate and bid on the various repossessed vehicles being sold at the auctions and finance needs to be pre-approved before the event begins. Auctions are held at various locations around South Africa including Port Elizabeth, Bloemfontein, Cape Town and Midrand and lists and repo catalogues are available prior to the events although subject to change on the day.

The corporate division is rich in heritage and helping people who need money to kick start a small business, take an existing business to the next level or even assist a multinational corporation. Commercial vehicles, fleets, plant and equipment and even aircraft finance can all be arranged through the expertise of consultants working in the corporate division of this top SA credit provider. When wanting to purchase a vehicle you need to be borrowing money from a credit provider that you feel you can trust so that you are not sprung any unexpected surprises or disappointments and with a professional company such as WesBank car finance, you cannot go wrong.

wesbank car finance - News


Buyers desert car showrooms - Business Day
Buyers desert car showroomsChris de Kock, executive head of sales and marketing at WesBank, also bet on the likelihood of the benefits of interest rate reductions to spill over into the new vehicle industry towards the end of the year. For now, dealers face long- term lease

No breaks for local motor industry this year - Business Report
No breaks for local motor industry this year - Business Report Reuters South AfricaNo breaks for local motor industry this yearVehicle finance group WesBank pointed out that with the poor performance in May, the industry had now sold 88 000 fewer vehicles this year compared with the same period in 2008. "The 450 basis points decrease in the prime-lending rate since December Depressed car sales persist Recession adds more strain to motor industry