Q3 sees used car sales surpass R39b
AutoTrader data reveals that the used car market generated a remarkable R39b in revenue in the third quarter of this year. Despite a slight drop in sales, the industry still boasts impressive figures.
According to AutoTrader’s data for Q3 2023, while used car sales experienced a 9% month-on-month decline in September as compared to August, the market remains substantial. The average car price also saw a slight uptick, rising from R403 203 to R403 626.
In September, the total value of used cars sold amounted to R12.7b, reflecting a notable 10% year-on-year growth. Nevertheless, it fell short of August’s sales, which exceeded R14b.
The status quo remains unchanged as Toyota, VW and Ford continue to dominate the list of top-selling used car brands, followed closely by BMW, Hyundai, Mercedes-Benz, Nissan, Kia and Audi. However, Kia stands out as the only brand among the top 10 to achieve month-on-month growth, posting an 8.7% increase. Suzuki also made a comeback, securing the final spot in the top 10 and displacing Renault from the list.
In terms of used car model sales, the Ford Ranger bakkie retained its top position with 1 713 sales. The VW Polo hatchback secured second place with 1 441 sales, outperforming the Toyota Hilux by 50 units. The affordable VW Polo Vivo, the spacious Toyota Fortuner and the premium sedans Mercedes-Benz C-Class and BMW 3 Series also made the list. The Kia Picanto, a Korean hatchback, and the compact SUV Ford EcoSport rounded out the top 10 sold models.
With the exception of the Jeep Wrangler and the newcomer to the top 10, the Kia Picanto, all models saw a decline in sales.
AutoTrader CEO George Mienie comments, “The adventure SUV, the Jeep Wrangler, continued its impressive rise with a 9.2% month-on-month increase in sales, while the Kia Picanto achieved a 4.2% growth, edging out the previous 10th-ranked Nissan NP200. Among the top 10 used models sold in September, the five-door petrol hatchback had the most affordable average selling price at R170 518, while the Wrangler claimed the title of the priciest, with an average of R474 399.”In terms of vehicle variants, the top three remained consistent, with the VW Polo 1.0TSI, VW Polo Vivo 1.4 and Toyota Hilux 2.8GD-6 maintaining their lead.
Source: HaveYourSaySA/AutoTrader Used Car Sales Data
