Used cars drop in price and increase in sales
The average car sold came with a mileage of just over 72 000km and was a 2018 model.
A booming used car market might pose welcome alternative options for cash-strapped motorists.
According to data collected by AutoTrader, July saw the sale of more than 32 000 used cars at a total cost of almost R1.3-billion.
That is an increase of almost 2 500 cars and R100-million from June figures, showcasing an increasing desirability for second-hand cars.
But it is not the 8% increase in sales that bodes well, rather the fact that average purchase prices have dropped, which likely played a role in the market’s buoyancy.
“The welcome news for car shoppers is that the average price of the cars listed has come down from R406 474 in June to R403 003 in July. This drop in average price brings a measure of relief to consumers who face rising prices in just about every other sphere,” said AutoTrader CEO, George Mienie.
The average car sold came with a mileage of just over 72 000km and was a 2018 model.
Stay up to date on the latest and breaking news by following The North Coast Courier on social media:
Facebook
Twitter
Instagram
Toyota was the dominant brand in the used car market, followed by Volkswagen and Ford.
Rounding out the top 10 were BMW, Mercedes-Benz, Hyundai, Nissan, Suzuki, Renault and Kia.
Renault had previously fallen outside the highest sellers but surged in July to rise three places and unseat Kia in ninth position.
Bakkies were again shown to be the most desirable car in the latest figures, with the Ford Ranger and Toyota Hilux the two most popular purchases.
The VW Polo and Polo Vivo were third and fourth respectively, while the Toyota Fortuner claimed fifth.
In terms of highest growth per brand, Suzuki was the clear top pick at 24.3% increase, followed by locally manufactured Mercedes-Benz (14.9%) and Nissan (14.4%).
So keep an eye on used car sites to do your homework next time you are in the market.
Source: Nikki Chennells
Follow The North Coast Courier on Facebook, Twitter, Instagram & YouTube for breaking news
Telegram Broadcast Service: https://t.me/joinchat/yJULuN8NaCs5OGM0
Stay in the loop with The North Coast Courier on Facebook, X, Instagram & YouTube for the latest news.
Mobile users can join our WhatsApp Broadcast Service here, or if you’re on desktop, scan the QR code below.
