July was a positive month for the automotive sector in South Africa, with new car passenger sales increasing by 6.8% year on year. It was also an upbeat month for the used sector – while sales were down -1.2% year on year, they increased by a substantial 14% month on month.
According to AutoTrader, 31,707 used cars were sold in July 2024 – a marginal decline of 383 over the 32,090 vehicles sold in July 2023. According to naamsa | The Automotive Business Council, 29,934 new passenger cars were sold during July 2024 – an increase of 1,894 cars compared to the 28,040 new cars sold in July 2023
George Mienie, CEO of AutoTrader, has welcomed the increase in new car sales, saying that it bodes well for the used sector. “The used car market relies on new car sales. Therefore, a slight decline in used car sales is not cause for concern as the increase in new passenger car sales indicates that consumers are in a better financial position. The growing new car sales will fuel future used car sales as newer vehicles enter the South African car parc,” he predicts.
According to AutoTrader, the average value of used cars sold in July 2024 was R409,238 – 1.8% higher than R401,865 in July 2023. A year ago, the average mileage of used cars sold was 73,355km and the average registration age was 5 years-old. In July 2024, this changed to 75,227km with registration age remaining at 5 years-old. The average value of financed new cars rose by 3.1% from R400,714 in July 2023 to R413,113 in July 2024¹.
The accumulated value of used car sales in July 2023 – at R12.895 billion – increased by 0.62% to R12.975 billion in July 2024. When one looks at the month on month growth, this is even more positive. The accumulated value of used car sales in June 2024 was R11.312 billion, meaning the value has grown by 14.7% month on month.
The top-selling used cars in South Africa in July 2024 were the Volkswagen Polo, Volkswagen Polo Vivo and Toyota Fortuner. Meanwhile, the top-selling used bakkies in South Africa were the Ford Ranger, Toyota Hilux and Nissan NP200.
The top-selling new cars in South Africa in July 2024 were the Volkswagen Polo Vivo, Toyota Corolla Cross and Hyundai Grand i10. On the other hand, the top-selling new bakkies in South Africa were the Toyota Hilux, Ford Ranger and Isuzu D-Max.
Top 10 Sold Models in July 2024
| Ranked by most sold | Model | Sold Count | Price (R) Average | Mileage (km) Average | Registration year Average |
| 1 | Ford Ranger | 1,903 | R464,598 | 80,767 | 5 years-old |
| 2 | Toyota Hilux | 1,540 | R441,540 | 105,965 | 6 years-old |
| 3 | Volkswagen Polo | 1,384 | R262,145 | 72,104 | 6 years-old |
| 4 | Volkswagen Polo Vivo | 1,179 | R192,052 | 61,415 | 5 years-old |
| 5 | Toyota Fortuner | 756 | R464,036 | 101,531 | 6 years-old |
| 6 | Mercedes-Benz C-Class | 565 | R400,570 | 98,399 | 9 years-old |
| 7 | Suzuki Swift | 513 | R185,546 | 39,607 | 3 years-old |
| 8 | Nissan NP200 | 497 | R179,714 | 83,343 | 5 years-old |
| 9 | BMW 3 Series | 471 | R388,072 | 104,522 | 8 years-old |
| 10 | Isuzu D-Max | 436 | R414,176 | 68,777 | 3 years-old |
Source: Wes bank Car Finance Data
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