Park Village Auctions has just announced the next Johannesburg-based auction of verified ABSA prepossessed vehicles, where bakkies and small cars will take centre stage.
“Light commercial and passenger vehicles are currently in demand. I suspect that this could be due to the soaring prices of new vehicles in this category. We are pleased that the upcoming auction will cater to market demand,” says PVA’s Clive Lazarus.
Using vehicle sales data from across the industry, the TransUnion South Africa Vehicle Pricing Index (VPI) measures the relationship between the increase in vehicle pricing for new and used vehicles. The VPI for new vehicles reported a sharp rise in the fourth quarter (Q4) of 2020 of 9.6%, up from 2.9% in the same period in 2019.
Lazarus: “While new car prices are increasing due to inflation, so are business and household expenses. Budgets are stretched, so used vehicles represent a viable way to acquire a run-around or workhorse.”
According to Lazarus, the upcoming auction will showcase over 250 passenger and light commercial vehicles ranging from entry-level hatchbacks to sedans, SUVs, bakkies and light utility vehicles.
The auction will be held entirely online via PVA’s new hybrid format. Online bidding will open at 10 am on Monday the 12th of April and will continue until the start of the live webcast finale at 10 am on Tuesday the 13th of April. Pre-approved finance from auction finance is available
A preview of the vehicles, located at the ABSA Trade Centre, 8 Top Road, Anderbolt, Gauteng, will be held on Friday the 9th and Monday the 12th of April from 9 am to 4 pm.
To register, or for more information, visit parkvillageauctions.co.za web reference 705 or call Anna Mahlangu on 011 789 4375.