How the fuel hike might impact buying a new car

Manufacturers are likely to offer good deals in order to attract sales

Motor manufacturers and retailers are expected to feel the pinch more than ever before. “Manufacturers will consciously keep price increases to the bare minimum, to boost customer sentiment and encourage vehicle sales. Retailers, eager to generate sales, are likely to offer good deals. This will mean that margins at both dealer and OEM level will come under pressure,” says Mienie.

Banks will tighten their belts

Energy efficiency will become a key purchase decision