DESPITE the steady drop in new car sales, people are still buying.
Ghana Msibi, WesBank executive head of sales and marketing, said according to their data, 69% of all finance applications has shifted to the used-car market.
Data shows that people are holding onto their cars for longer. This indicates the South African’s challenge with affordability.
“While people are consistently financing their cars as close to the maximum period allowed over the past two years, the average period before contract settlement has increased by six months.”
He said new passenger car sales declined 5,4% compared to November last year to 31 054 units.
Government bought fewer passenger cars this year, but increased spending on commercial vehicles – an obvious push towards industrial needs.
Light commercial vehicle sales slowed 6,1% this year to 13 695 units but medium, heavy and extra-heavy commercial vehicles have increased by 1,3%, 4% and 12,7% respectively. This gives some hope of economic recovery for the country.
Top ten best-selling passenger cars for 2018
- VW Polo – 2 529 units
- VW Polo Vivo – 2 427 units
- Ford Figo – 1 195 units
- Ford Fiesta – 980 units
- Toyota Fortuner – 886 units
- Toyota Corolla Quest – 880 units
- Renault Kwid – 847 units
- Toyota Yaris – 746 units
- Toyota Etios – 731 units
- Hyundai Grand i10 – 726 units
Top ten best-selling light commercial vehicles for 2018
- Toyota Hilux – 3 235 units
- Ford Ranger – 2 506 units
- Nissan NP200 – 1 698 units
- Toyota Quantum – 1 694 units
- Isuzu KB – 815 units
- Nissan NP300 – 761 units
- Isuzu D-Max – 603 units
- Hyundai H100 bakkie – 298 units
- VW Amarok – 273 units
- Nissan Hardbody – 241 units
