Used-car prices surge as chip shortage squeezes supply
Trend is being driven by consumers opting to wait for their preferred new vehicles that are being delayed by the shortage of semiconductors worldwide
Used cars in SA are continuing to get more expensive as supply remains under pressure with motorists opting to keep their vehicles amid a shortage of semiconductors.
According to TransUnion Africa, the average vehicle price index (VPI) for used cars jumped 8.3% in the second quarter of 2022, higher than the 5.9% inflation rate and a sharp rise over the 4.9% recorded in the same period a year earlier second quarter of 2021...
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