SHOOT: In 2006 almost half a million vehicles were added to our roads. Ever wonder what the implications are of adding 500 000 cars every year to the same road network? Traffic jams, car accidents, potholes, pollution. Would you agree that it is in our best interest to try to CURB demand for cars, not to encourage it. More public transport please, more walkable community environments. Fewer cars, fewer noise, less expense associated with the motoring lifestyle
FIN24: Interest rates are now effectively at the same low levels they were in 2006. However, the structural characteristics of the economy have changed.
The National Credit Act was implemented in June 2007, which forced retail banks to apply stricter lending criteria. "Further inflation is a much bigger concern now than what it was back then. Households also have much higher levels of debt," said Mercier.
An example of structural change in the economy would involve real economic growth leading to urbanisation, which would in turn increase demand for cars.
FIN24: Interest rates are now effectively at the same low levels they were in 2006. However, the structural characteristics of the economy have changed.
The National Credit Act was implemented in June 2007, which forced retail banks to apply stricter lending criteria. "Further inflation is a much bigger concern now than what it was back then. Households also have much higher levels of debt," said Mercier.
An example of structural change in the economy would involve real economic growth leading to urbanisation, which would in turn increase demand for cars.
He added it would take a few years for the automotive market to return to levels seen in 2006. The industry sold a record of 481 558 new passenger vehicles in 2006, according to the National Automotive Association of South Africa (Naamsa). The projected sales number of new passenger vehicles for 2009 is 275 000 units.
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