New Bakkie Prices: Are They Affordable?
Simply put, no. The consumer is under increasing pressure every single day. This is more so than not the case for South African consumers. A weakening currency caused by political uncertainty, struggling trade and increased worker disputes all contribute their fair share in pressuring the South African consumer.
This becomes clearer when you look at the increasing new bakkie prices in South Africa. New bakkie deals can easily set one back over a quarter of a million, and it doesn’t get cheaper when one looks at new bakkie specials.
Sure, many of the new bakkies for sale do come with financial structuring support, but it comes in the form of a balloon payment that will linger over your bank account for years to come. Simply put, new bakkies are getting too expensive. Looking at the new bakkie prices seen on the local automotive market, one wonders how much debt the South African consumer is actually in.
This view is shared in other countries too. Although the US has the luxury of a more affordable baseline price for all their vehicle and fuelling, the global price increase of metal and manufacturing saw them, along with Europe and Asia, increase the prices across the board. Many automotive brands, including GWM, are looking to other methods of manufacturing and material production to keep prices as low as possible.
Considering the economic pressures endured by nearly every facet of the South African consumer market, expecting the automotive market to remain affordable is a pipeline dream… Unless of course you consider the new GWM Steed range. GWM proudly boasts the fact that prices across the GWM range have remained stable for 18 months and counting. And with market leading features available at entry level prices, the GWM Steed looks like the bargain of the century.
Image credit: Autodealer