Good news for South Africans who want to buy a car

• The South African Reserve Bank has decided to hold interest rates at 7.00%, providing good news for South Africans looking to purchase a new car.
• The decision came as a surprise, with industry experts predicting a 25 basis point rate hike, and is expected to promote household affordability and protect the strong momentum in South Africa's automotive sector.
• The move may boost showroom floor demand, but fuel price volatility remains a concern for motorists, with diesel prices predicted to increase by up to R1.10 in August.