Used car sales slump in September but affordable models see growth

September proved an interesting month for used car sales in South Africa with the latest data from AutoTrader revealing used car sales fell by 9.6% year-on-year and 10.3% compared with August. While overall sales took a dive, several models saw growth.

It’s no surprise that Toyota, Volkswagen and Ford retained their top three positions with 4,964; 4,134, and 2,962 units sold respectively. Toyota experienced a modest 2% decline year-on-year while Volkswagen saw an 8% drop in used car sales. Ford faced the steepest challenge, contending with a 13% decrease compared with the previous year.

On a brand level, the only position changes (month-on-month) involved Nissan, Hyundai and Suzuki. Previously in eighth place, Nissan moved up two spots, while Hyundai went from sixth to seventh. Suzuki also lost a spot, finishing in eighth place.

“While used car sales have seen a decline in September 2024, several models have seen growth in the used car market,” said AutoTrader CEO George Mienie.

“The sales uptick for used cars such as the Suzuki Swift, Toyota Starlet, Volkswagen Polo Vivo and Nissan NP200 highlight the strong demand for well-priced, fuel efficient vehicles.”

Speaking of the Nissan NP200, the compact bakkie — discontinued earlier this year — enjoyed tremendous year-on-year growth with used sales soaring by 43.9%. It’s possible a lack of new small bakkie options has led consumers to the used car market where they can find nearly new options at affordable prices. Used sales of the Starlet (412) and Swift (481) increased by 5.6% and 21.7% respectively. An increase in the sale of affordable used cars shows consumers are seeking budget-friendly options. 

As has been the case for some time, the top three spots are occupied by the Ford Ranger (1,600), Toyota Hilux (1,445) and Volkswagen Polo (1,330). Among the top three, only the Hilux has seen marginal growth, with a year-on-year increase of 3.9%. The Polo Vivo (fourth overall) also saw impressive YoY increases of 10.7% in September 2024. 

The Mercedes-Benz C-Class and BMW 3 Series saw the biggest YoY decreases, suggesting consumers are eschewing more expensive luxury vehicles in favour of more affordable and economical cars. 

Regarding the most sold variants on the used car market, the Volkswagen Polo 1.0 TSI and Polo Vivo 1.4 occupy the top two spots, followed by the Toyota Hilux 2.8 GD-6. The average used car price has fallen slightly to R405,154 compared with the previous month’s R408,412.