Year-on-year growth for the used car market

Used car sales generated in excess of R39 billion in Q3

In the third quarter of 2023, sales of used cars generated a staggering R39.1 billion, according to AutoTrader used car sales data.

But for the first time in three months, September used car sales went into negative territory, falling -9% month-on-month from 34,725 sales in August to 31,636. The average used car price crept up minimally to R403,626 from R403,203 the previous month.

The total value of used cars sold in September totalled R12.7 billion. While this figure reflects a year-on-year growth of 10%, used car shopping enthusiasm could not match August’s sales of just over R14 billion.

Still, other than a slight decrease in used car sales and some subtle ranking shifts, on the face of it little has changed. Toyota, VW and Ford are still the top selling used car brands ahead of BMW, Hyundai, Mercedes-Benz, Nissan, Kia, and Audi. However Kia was the only brand on the top ten list to achieve any month-on-month growth (8.7%), while Suzuki made a comeback to claim the last spot in the top ten, knocking Renault off the list.

On to the used car winners in model sales. The Ford Ranger bakkie maintained its grip on the winner’s trophy with 1,713 sales, the VW Polo hatchback’s 1,441 sales outsold the Toyota Hilux by 50 units to wrestle second spot away from the bakkie. Affordable hatchback VW Polo Vivo, large SUV Toyota Fortuner, premium sedans Mercedes-Benz C-Class and BMW 3 Series, Korean hatchback Kia Picanto and compact SUV the Ford EcoSport completed the top ten sold models.

With the exception of the Jeep Wrangler and newcomer to the top ten model line-up, the Kia Picanto, all models experienced a dip in sales.

“Adventure SUV the Jeep Wrangler continued its meteoric rise with a 9.2% month-on-month growth in sales, while the Kia Picanto posted a 4.2% growth, ousting previous tenth spot holder, the Nissan NP200. The 5-door petrol hatchback was the most affordable of the top ten used models sold in September with an average selling price of R170,518, the Wrangler the costliest at an average of R474,399,” reveals AutoTrader CEO George Mienie.

There was no change to the top three sold variants with the VW Polo 1.0TSI, VW Polo Vivo 1.4 and Toyota Hilux 2.8GD-6 again emerging as winners.

Source: AutoTrader Used Car Sales Data

Top 10 used models sold in Q3

Most Sold Models	Units Sold	Average Price	Average Mileage	Average Age
Ford Ranger	1713	R460,042	80,245	4 years old
Volkswagen Polo	1441	R260,828	64,242	4 years old
Toyota Hilux	1391	R445,642	111,279	5 years old
Volkswagen Polo Vivo	926	R188,548	66,870	4 years old
Toyota Fortuner	803	R459,762	102,484	5 years old
Jeep Wrangler	714	R474,399	125,420	9 years old
Mercedes-Benz C-Class	652	R426,807	102,144	7 years old
BMW 3 Series	564	R365,912	104,512	7 years old
Ford EcoSport	485	R242,698	55,599	3 years old
KIA Picanto	423	R170,518	40,806	3 years old