JOHANNESBURG, South Africa – ”Cautiously optimistic.” That’s how George Mienie, CEO of AutoTrader, feels about the state of used-vehicle sales in South Africa in not only the middle of the South African winter but also of the Covid situation.
“Prices have begun to increase – slightly – with cars selling faster than experienced earlier in 2020. That’s two positive factors.”
His opinion is based on AutoTrader’s Used Car Rate of Sale indicator for the period ending June 2020. According to this data, the fastest-selling used vehicle in South Africa at the end of June was the Volkswagen Polo Vivo – an average of 25 days to sell.
Mienie aggain: “This again confirms the popularity of the Volkswagen brand – which was also the most-sold brand in June 2020. Toyota products were second with its Fortuner the second-fastest selling vehicle in June (26 days to sell), followed by the Hilux (also 26 days).”
‘DEMAND A GOOD THING’
AutoTrader’s retail price index (RPI) shows a 1.2% increase in prices in June (month-on-month) with the average selling price of a car for the month of June R274 221. “This is a small increase,” Mienie warns, ”but positive news for retailers. It also means demand for used cars continues to rise.
“Consumer demand, even on used cars, is always a good thing for the whole automotive industry as we know the South African used-car market is a much bigger than new.”
Fastest selling used cars, June 2020*
Make and Model
Rate of Sale (days)
Volkswagen Polo Vivo
Toyota Corolla Quest
BMW 3 Series
*AutoTrader Rate of Sale (ROS) indicator. Models that tied in days have been ranked by the lowest average individual time to sell a model.