Following a dip in performance in September, the South African automotive sector experienced a strong rebound in October 2024, with notable sales growth in both the new and used car markets.
Based on the latest sales data from AutoTrader, the used car market is on the upturn, with 34,968 units sold in October 2024. That represents a 6.5% year-on-year increase from the 32,839 used vehicles sold in October 2023, and a 22% uptick in used car sales compared to September 2024, which saw total sales reach 28,609.
According to naamsa | The Automotive Business Council, new passenger vehicle sales rose to 34,228 in October 2024, showing growth as the industry reaches the end of the year. That’s a 14.5% year-on-year difference and a 12.6% increase compared to September 2024.
“Used car sales saw a notable increase in October 2024, spearheaded by strong sales of budget-friendly cars,” said George Mienie, CEO of AutoTrader. “The Volkswagen Polo Vivo, for example, enjoyed a 37% month-on-month sales increase, while sales figures for the Toyota Starlet grew by 26% compared to last month. Interestingly, the BMW 3 Series also saw a significant uptick, with month-on-month sales rising by 27% compared to September 2024.”
In October 2024, the total value of used car sales rose to R14.09 billion, a 21.59% increase from September’s R11.59 billion. Year-on-year, used car sales also saw growth, up 10.84% compared to October 2023’s R12.64 billion.
The average price of used cars has fallen slightly from September 2024’s average of R405,154 to R403,049 in October. Interestingly, the average mileage has decreased from 75,588 km in September to 73,757 km last month. The average registration age for used cars sold in October 2024 is five years old.
In October 2024, the most popular used passenger car models included the Volkswagen Polo (1,679 units), Volkswagen Polo Vivo (1,402 units), Toyota Fortuner (737), Suzuki Swift (635), Mercedes-Benz C-Class (563), BMW 3 Series (561), and Toyota Starlet (521).
Regarding new passenger vehicles, the budget-friendly Volkswagen Polo Vivo has supplanted the Toyota Corolla Cross as the best-seller. 2,297 units of the Vivo were sold, with the Corolla Cross following closely at 2,104 units. Other strong sellers include the Volkswagen Polo (1,425), the Toyota Starlet (1,358), and the Hyundai Grand i10 (1,280).
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Author: Michelle Muir from Have Your Say on behalf of AutoTrader.
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