Younger buyers now opting for new vehicles rather than used – Absa Finance

Absa Vehicle and Asset Finance (AVAF) says consumers aged 18 to 35 – Millennials and Generation Zs – have year-to-date accounted for 40% of all new-vehicle finance applications and 45% of used-vehicle finance applications. This translates into 32% of financed new-vehicle sales and 39% of financed used-vehicle sales, underscoring their growing influence on vehicle purchasing trends.

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