The number of used cars sold in August grew by a sizeable 12% month-on-month to 34,725 from 30,978 in July. And the cumulative value of used cars sold to date has now reached over R14 billion reflecting a year-on-year growth of 10.5%, reports AutoTrader.
“While new car sales dipped in August, in the used car sphere the opposite happened. This could be attributed to the value benefit pre-owned cars offer buyers, which makes pre-owned cars an attractive option,” says George Mienie, CEO of AutoTrader.
During the month of August, on average consumers paid R403,203 for models with a 2018 average registration year and 78,509km mileage.
Toyota continues to lead the pack in used cars sales, selling nearly five times as many cars as Korean brand Kia in 10th position in August 2023.
Volkswagen and Ford followed Toyota with BMW and Mercedes-Benz completing the top five most sold used cars line-up in August. Trailing these local car manufacturers were Hyundai, Nissan, Renault, while Audi slipped into the fray ahead of Kia. Interestingly, unlike July, Suzuki didn’t make the top ten cut in August.
Local carmakers Volkswagen, BMW and Ford posted the biggest gains in car sale numbers, with month-on-month increases of 19.78%, 19.05% and 14.68% respectively. Meanwhile, sales of Hyundai, Nissan and Renault declined.
August used car model sales followed much the same pattern as July, with one exception.
Ford Ranger and Toyota Hilux bakkies claimed the top two positions while two hatchbacks from the Volkswagen stable – the VW Polo and VW Polo Vivo – followed in third and fourth ahead of large SUV Toyota Fortuner and premium sedans the Mercedes-Benz C-Class and BMW 3 Series.
Claiming eighth spot as the most sold used model was new entrant Jeep Wrangler, which shot up ten positions with a 111.65% month-on-month growth. The Wrangler pushed both the Ford EcoSport and Nissan NP200 (the most affordable in the top ten line-up with an average selling price of R161,060) down a spot.
Hatchback duo, the economically priced VW Polo Vivo 1.4 and sibling VW Polo 1.0TSI, and bakkie favourites the Toyota Hilux 2.8GD-6 and Ford Ranger XL maintained their positions as the top four sold variants in August. In a turn up for the books, the Toyota Hilux 2.4GD-6 got knocked out of the top five by the Jeep Wrangler Sahara. The off road-capable mid-size SUV sold for an average of R481,550 for 2014 models with 122,988km on the clock.
The new car market might be feeling the pinch right now, but with ongoing growth in sales, the used car market continues to gain traction.