In a dynamic automotive landscape, the third quarter of 2023 saw the used car market generate a substantial R39.1-billion, marking a resilient industry despite facing a -9% month-on-month decline in September.
- AutoTrader’s used car sales data provides a comprehensive view of the nuances and shifts within this ever-evolving market.
- September, traditionally a month of stability, witnessed a deviation from the norm as used car sales dipped into negative territory for the first time in three months.
- The industry has showcased its resilience with a robust year-on-year growth, but the month-on-month dip in sales signalled a nuanced shift in consumer behaviour.
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The total value of used cars sold in September in South Africa amounted to R12.7-billion, reflecting a year-on-year growth of 10%. While this presents positive momentum, it falls short of August’s stellar performance, where sales breached the R14-billion mark. Enthusiasm for used car shopping seemed to have tapered off slightly.
The figures, dropping from 34’725 sales in August to 31’636, raised eyebrows. However, the average used car price showed marginal growth, creeping up from R403’203 to R403’626.
Despite the dip in sales, the hierarchy among the top-selling used car brands remained largely unchanged. Toyota, VW, and Ford continued to dominate the market, with BMW, Hyundai, Mercedes-Benz, Nissan, Kia, and Audi following suit. Additionally, Suzuki made a comeback, claiming the last spot and nudging Renault off the list.
The VW Polo hatchback, with 1’441 sales, outperformed the Toyota Hilux, securing the second position. Notably, the affordable VW Polo Vivo, the imposing Toyota Fortuner, premium sedans Mercedes-Benz C-Class and BMW 3 Series, the nimble Kia Picanto, and the compact SUV Ford EcoSport rounded off the top ten sold models.
While all models, except the Jeep Wrangler and newcomer Kia Picanto, experienced a decline in sales, the adventure SUV, Jeep Wrangler, stood out with a 9.2% month-on-month growth. The Kia Picanto, a 5-door petrol hatchback, posted a commendable 4.2% growth, displacing the Nissan NP200 from the tenth spot.
The Kia Picanto, with an average selling price of R170’518, emerged as the most affordable among the top ten used models sold in September, while the Wrangler claimed the costliest title with an average price of R474’399.
// CEO of AutoTrader, George Mienie
As for the top three sold variants, consistency prevailed with the VW Polo 1.0TSI, VW Polo Vivo 1.4, and Toyota Hilux 2.8GD-6 continuing their reign.
September 2023 brought a blend of challenges and triumphs to the used car market. The competitive landscape remains fierce, with brands and models vying for the attention of discerning buyers. As the market navigates these fluctuations, one thing is clear: the used car industry is a dynamic arena, constantly evolving to meet the diverse needs and preferences of consumers.
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