This Week In The News

NEWS IN SHORT

• On Thursday (20 June), the rand was trading at R17.99 to the dollar, R22.94 to the pound, and R19.31 to the euro. Oil is trading at $85.10 a barrel. [Reuters]
  
  
• National Automobile Dealers Association (NADA) has noted a trend of consumers downsizing and turning to the growing number of Asian participants—particularly Chinese brands—which are making a significant impact in the market.
  This shift has hit premium manufacturers such as Audi, BMW, Mercedes-Benz, and Volvo.
  
  
• In the last 12 months, approximately 33% of Standard Bank customers opted to include the maximum balloon payment on their finance contract. Balloon payments are expressed as a percentage of the vehicle’s total purchase price, excluding additional warranty or service plan costs. Most banks allow up to a maximum of 40%.
  
  
• South Africa's ports are among the most inefficient in the world, and it's threatening the prosperity of the country's automotive industry.

• Hundreds of damaged VW Polos and Ford Rangers stuck at South African port, A ship carrying hundreds of locally-made vehicles had to return to port after being damaged out at sea.

• Mazda has launched a new WhatsApp "open line" allowing South African customers to directly contact the automaker's head offices.

• This year is proving to be a busy year for Chinese automakers, as are there at least three more brands coming to South Africa before the calendar clicks over to 2025.

• A new Chinese automaker known as Jetour is quietly setting up in South Africa. Jetour is a Chery Group subsidiary in its home market, however, it is launching in ours as an independent brand.

• The latest data from the Central Energy Fund (CEF) shows that fuel price recoveries have pulled back by around 50 cents per litre since the start of the month—but motorists are still lined up for a sizeable cut in July. The main driver behind the fluctuations in fuel price recoveries is the global oil price, which has trended higher since the start of the month.

• John Zeng – #NADAConnect 2024 Cape Town
  John Zeng, GlobalData’s Director of Asian Forecasting, joined the NADA#Connect conference in Cape Town live from Shanghai. With one in three new passenger cars being produced in China, the Eastern giant’s influence on global automotive trends is significant. Add to this China’s dominance in electric vehicle markets, and you begin to understand why delegates were riveted to John’s presentation. View John’s presentation and audience questions here. https://nada.co.za/john-zeng-nadaconnect-cape-town-2024/

• The Administrative Adjudication of Road Traffic Offences (AARTO) system, which streamlines traffic offences and introduces a demerit points system that could lead to suspended or cancelled licenses, is expected to be rolled out across South Africa from 1 July 2024.

 

Haval Jolion updated for South Africa – Pricing

Haval has updated the popular Jolion range for South Africa, splitting it into two distinct families named the Jolion City and Jolion Pro.

The South African pricing and model line-up for the revised Haval Jolion catalogue are as follows:

• Haval Jolion 1.5T City 6MT – R345,950
• Haval Jolion 1.5T City Plus 7DCT – R370,950
• Haval Jolion Luxury Limited Edition 7DCT – R420,950
• Haval Jolion Pro 1.5T Premium 7DCT – R391,150
• Haval Jolion Pro 1.5T Super Luxury 7DCT – R425,950
• Haval Jolion Pro 1.5T Ultra Luxury 7DCT – R462,950
• Haval Jolion Pro 1.5T S Ultra Luxury 7DCT – R495,950
• Haval Jolion Pro 1.5T HEV Ultra Luxury DHT – R516,950

 

Bugatti reveals new R73-million V16 hypercar.

A total of 250 examples will be built. Deliveries will begin in 2026.