| Dear Member, |
While sales of new cars decline, the focus moves to used cars
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While the slowdown in new vehicle sales is not completely unexpected in the present economic climate, the positive news is that consumers have moved their focus to used vehicles and IDA Members are well positioned to benefit from this.
According to WesBank’s data for January 2016, 70 percent of all applications received were for used vehicles, while the remainder of applicants decided on new vehicles.
This trend is expected to continue throughout this year, as cash-strapped and budget-conscious consumers opt for more affordability. And even though the international oil price has declined dramatically, this is offset by the poor performance of the Rand.
At least the imminent fuel price decrease announced by the AA this week, is some good news to look forward to!
All the best for a great February,
Pieter Wessels
CEO IDA Group of Companies
PS: For our readers who are wondering where SuperSpark is… he has been buzzing around the country, and will be back to answer your topical and pertinent questions in the next issue.
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| Slow start for new car sales in 2016 |
It’s no surprise that the South African economy has taken a bit of a knock over the recent month, writes Lightstone Auto in their review for January. Click here for more.
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| Financial Services Appeal Board dismisses appeal |
| A financial advisor’s appeal against her two-year debarment for submitting false applications was dismissed recently. |
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| From the Crow's Nest |
Whoops! Tata accidentally names new car after deadly Virus
Read more... |
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| IDA Dealer Member Zone |
| We welcome the following new Dealer Members to the family. |
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| IDA CARE Foundation visits Good Morning Angels Project Emery Boys |
| We had the pleasure of meeting the Emery Family, when they visited to show off their new triplet pram, sponsored by the IDA CARE Foundation! |
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West Rand Music festival |
The annual West Rand Music Festival will be held from 2 to 7 May this year and the IDA CARE Foundation is a proud supporter. |
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Heads-Up is a monthly electronic newsletter for members of the IDA. If, for any reason, you no longer wish to receive this communique, kindly unsubscribe here. Editorial co-ordination by The Hothouse Communications, 011 678 3545. | | | | |
