Bad news for anyone who cares about their vehicle’s resale value in South Africa

• Cheaper new Chinese cars are putting pressure on used-vehicle prices in South Africa
• The rapid arrival of lower-priced vehicles has become a financial risk for WesBank, one of South Africa's largest vehicle financiers, with profit before tax declining 20% to R1.016 billion
• The warning from WesBank comes as the used-car market faces a depreciation problem, with consumers able to buy new vehicles with more features at competitive prices, making older vehicles less attractive