Big car-buying discounts expected on Black Friday
AutoTrader says savings of up to 36% are on offer in SA
Black Friday frenzy is in full swing as consumers gear up for big money-saving deals on November 23, and bargain-seekers will also be able to pick up some cut-priced cars.
AutoTrader CEO George Mienie says he has never seen a discounting frenzy like this before, citing over 1,000 Black Friday deals on their website alone. Discounts on offer range between 4% to 36%, on vehicles from major brands across the model spectrum.
“Finally, we have some really good news for South African motorists who have been weathering costs like the petrol price increases. Black Friday is offering a great opportunity for cash-strapped South Africans,” Mienie comments.
He says that this week buyers will be able to snap up a car at a highly discounted price from dealerships across the country, with motorists expected to realise savings to the tune of R40m.
The local move to embrace Black Friday comes as the motor industry faces a challenging year. Motor dealerships are keen to lift sales figures and meet their month-end targets – hence their willingness to offer these substantial discounts. Furthermore, Mienie says dealers are keen to move 2018 stock before year-end.
According to research conducted by Global Analysis Team, the five most popular items on Black Friday are typically clothes, electronics, shoes, cosmetics/perfume and home appliances.
If South African car dealerships have their way, cars will soon be added to that list. “A 30% discount on a the value of a car, cannot be compared to a 30% discount on a fridge” points out Mienie. “Buying a car for many people is the second biggest financial investment, after a home. The level of discounting on cars that we’re seeing, is significant, especially if you are financing the car and you add on the cost of borrowing.”
There are bargains aplenty. For instance, 33% has been shaved off the sales price of a Mini Cooper, which is now going for R119,000. A Volkswagen Tenaciti has been reduced from R89 950 to R74 950, a 16.68% saving.
There are some deals on bakkies too, such as a Ford Ranger that has been discounted from R299,000 to R237,000, a saving of 20.74%.
The rival cars.co.za website is also listing Black Friday deals. For instance, Fouche Motors is offering customers a R20,000 cash back or electronic gifts to that value.
Black Friday deals in the South African automotive industry are relatively new, but this has been happening overseas for some time. In 2015, for instance, Black Friday accounted for more than 18% of all car deals made that month.
Black Friday is an informal name for the day following Thanksgiving Day in the United States, the fourth Thursday of November, which has been regarded as the beginning of the country's Christmas shopping season. A formerly US-based promotion, Black Friday has become a global shopping phenomenon.