Average SA consumer is highly indebted
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The average consumer in South Africa is in a desperate and highly indebted position, which is significantly denting their intent to purchase either a new or used vehicle plus other products. This was one of the major themes to emerge from a webinar and panel discussion last week about the Deloitte 2023 South African Automotive Consumer Study.
According to Deloitte global automotive research leader Ryan Robinson:
1. About one in four consumers in South Africa is concerned about making coming payments; ·
2. More than two-thirds of consumers are concerned about the amount of money they have saved; and
3. Almost one in four consumers is concerned about the amount of credit card debt they are carrying.
According to Deloitte global automotive research leader Ryan Robinson:
1. About one in four consumers in South Africa is concerned about making coming payments; ·
2. More than two-thirds of consumers are concerned about the amount of money they have saved; and
3. Almost one in four consumers is concerned about the amount of credit card debt they are carrying.
