Following a solid performance in August, the South African automotive segment experienced mixed results in September 2024, with minor increases in new car sales and a subtle downturn in the used car market.
According to the latest sales data from AutoTrader, the used car market recorded 28,609 units sold in September 2024, a -9.6% year-on-year drop from the 31,636 units sold in September 2023. When compared to August 2024, which saw 31,877 used car sales, the market experienced a decline of -10.3% month-on-month.
According to naamsa | The Automotive Business Council, the new car market posted a +2% year-on-year growth in September 2024, with 30,218 units sold. This marks a modest month-on-month rise of +0.33% compared to August 2024, when 30,116 passenger vehicles were sold.
“While used car sales have decreased in September 2024, there are some outliers,” said George Mienie, CEO of AutoTrader. “Affordable models such as the Suzuki Swift and Volkswagen Polo Vivo enjoyed year-on-year growth, with increases of +21.5% and +10.9%, respectively. The discontinued Nissan NP200 put on a phenomenal showing, with a +43.9% uptick in sales compared to September 2023, highlighting the need for small, well-priced, and economical commercial vehicles.”
The total value of used cars sold in September 2024 saw a decline, amounting to R11.59 billion. This reflects a -8.7% decrease compared to September 2023’s R12.70 billion and an -11% drop from the R13.02 billion recorded in August 2024.
As for the average price of used cars last month, that also decreased slightly from August 2024’s figure of R408,412 to R405,154 in September 2024. The average registration age was five years, while the average mileage sits at 75,588 km. It’s a different story on the new car market, where the average price of financed new cars increased by +4.1% year-on-year, shooting up from R395,112 to R411,449¹.
When it comes to individual models, the most popular used passenger cars for September 2024 include the Volkswagen Polo (1,330), Volkswagen Polo Vivo (1,027), Toyota Fortuner (707), Nissan NP200 (528), and the Mercedes-Benz C-Class (493).
In the new car scene, the Polo Vivo continues its market dominance with September 2024 sales totalling 2,407 units. Following closely is the Toyota Corolla Cross, with a recorded 2,045 units sold. The Fortuner occupies third place, with sales of 1,086 last month.
Top 10 Sold Used Models in September 2024
|
Ranked by most sold |
Model |
Sold Count |
Price (R) Average |
Mileage (km) Average |
Registration year Average |
|
1 |
Ford Ranger |
1,600 |
R452,044 |
82,598 |
4 years-old |
|
2 |
Toyota Hilux |
1,445 |
R447,576 |
105,771 |
5 years-old |
|
3 |
Volkswagen Polo |
1,330 |
R264,709 |
70,964 |
4 years-old |
|
4 |
Volkswagen Polo Vivo |
1,027 |
R193,276 |
60,793 |
3 years-old |
|
5 |
Toyota Fortuner |
707 |
R458,224 |
106,132 |
5 years-old |
|
6 |
Mercedes-Benz C-Class |
534 |
R447,968 |
91,955 |
7 years-old |
|
7 |
Nissan NP200 |
528 |
R178,606 |
72,824 |
3 years-old |
|
8 |
Suzuki Swift |
481 |
R192,145 |
38,636 |
2 years-old |
|
9 |
BMW 3 Series |
442 |
R392,146 |
107,272 |
7 years-old |
|
10 |
Toyota Starlet |
412 |
R232,836 |
34,730 |
1 years-old |
Source: AutoTrader Used Car Sales Data: 1 – 30 September 2024
Source: Wesbank Car Finance Data
