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Fluctuations in this sphere can also impact vehicle owners.
ECONOMIC ENVIRONMENT
The interest rate has been a killer to the South African consumers pocket. Our country has experienced a reasonably good economy in prior years, where people could comfortably afford cars. Now, we have astronomically high interest rates, and this is forcing banks to take back cars by the thousands per month...
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Now, we have astronomically high interest rates, and this is forcing banks to take back cars by the thousands per month. This is highly detrimental to the socioeconomic state of the South African citizen.
Inflation. There has been an increase in inflation, which means higher salaries for consumers. Although earning a higher salary is meaningless when the prices of everything goes up as well...
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