CAPE TOWN, South Africa – Used-car inventories – especially “nearly new” units (2019 model models) – increased by a startling 32% in July 2020 over the previous month and that, The Corner was told, ”puts buyers in the pound seats”.
Buyers of older used vehicles are also scoring; total inventory listings have increased by nearly 20% month-on-month (June/July 2020).
The data is from AutoTrader – the largest digital automotive marketplace in South Africa – which gives insight into vehicle demand, supply, and pricing patterns.
HOW ABOUT A VW POLO?
George Mienie, AutoTrader’s CEO, says such statistics mean it’s a buyer’s market in South Africa right now: “Simply put, buyers are spoilt for choice – especially if seeking a car first registered in 2019 and so listed as ‘nearly new’.”
AutoTrader’s data shows the most 2019 registrations are VW Polos. “The average selling price/distance travelled of a 2019 Polo is R221 492 and 22 448km.
”Next is the VW Polo Vivo – R178 994 / 23 338km but Toyotas make up about 50% of units among the top 10 2019 cars with the most active listings. “Not surprising, given that Toyota sells the most new vehicles in South Africa.”
Toyota’s Corolla Quest, Yaris and Etios are third, fourth and fifth place respectively from 2019 with the average selling price of a Quest is R190 362 / 26 883km, Yaris R217 796 / 26 598km, and Etios R158 815 / 27 652km.
BARGAINS FROM DATSUN
The other two Toyotas in the top 10 – Fortuner and RAV4 (seventh and eighth place) – average R479 378 / R391 156 respectively.
Cash-strapped? Then you could go for a 2019 Datsun Go!: “At R123 157,” Mienie says, ”they are really good value. A new Go! starts at R174 200.”
Perhaps surprisingly, the most-sold used vehicle in South Africa – Ford’s Ranger bakkie – only clocks in at 10th with an average selling price of R452 667.
So GET OUT THERE!