The most expensive cars from every brand in South Africa
Wealthy South Africans are having to fork out more to purchase luxury vehicles regardless of the brand.
First quarter data from TransUnion’s latest Vehicle Pricing Index (VPI) showed that new vehicle prices increased on average by 6.3% over the first three months of 2023.
Many car manufacturers have blamed high input costs as a result of load shedding, poor economic conditions and a shortage of key parts due to supply chain issues globally.
Brands such as Mercedes, Porsche and Ferrari, synonymous with luxury, are still sitting above more consumer-friendly cars; however, the likes of Toyota and Hyundai have base models of certain larger vehicles surpassing the R1 million mark.
Financial strain exacerbated by high-interest rates and inflation has resulted in monthly payments, especially for luxury vehicles becoming more expensive.
Luckily for consumers, the South African Reserve Bank (SARB) paused hikes on 20 July, keeping the repo rate at 8.25% with a prime lending rate at 11.75%.
Although the rate cycle has ended for now, consumers who wish to finance a vehicle valued at R1 million would have to pay R22,214 a month – up to R2,320 from the start of the rate cycle in September 2021 (7%).
On top of costing more, having an expensive vehicle is likely to draw in the eyes of the South African Revenue Service (SARS). Earlier this year, Tax Consulting SA reported that the taxman’s latest revenue results showed that roughly R800 million was claimed by SARS from luxury vehicles.
According to Tax Consulting SA, SARS is approaching third-party informants, including vehicle licensing offices, deeds offices, financing houses and social media platforms when assessing the assets held by a taxpayer.
BusinessTech looked at what was on offer from major car manufacturers:
(Note: Figures from TopAuto.co.za were used)
Alfa Romeo Stelvio Quadrifoglio Q4
- Starting price: R1,936,900
Aston Martin Superleggera
- Starting price: Price on appointment (POA)
Audi R8 Spyder
- Starting price: R3,871,100
Baic B40 Plus
- Starting price: R574,500
Bentley Continental
- Starting price: R5,120,000
BMW XM
- Starting price: R3,400,000
Chery Tiggo 8 Pro
- Starting price: R504,900
Citroen C5 Aircross 1.6T Feel
- Starting price: R633,900
Ferrari 296 GTB
- Starting price: R6,804,200
Fiat 500X
- Starting price: R509,900
Ford Mustang
- Starting price: R1,390,000
GWM P-Series Special Edition
- Starting price: R413,000
Haval H6 GT
- Starting price: R642,550
Honda Civic Type R
- Starting price: R979,000
Hyundai Palisade
- Starting price: R1,121,000
Isuzu Mu-X
- Starting price: R800,000
Jaguar F-Type
- Starting price: R2,105,600
Jeep Grand Cherokee
- Starting price: R1,132,000
Kia Sorento
- Starting price: R879,900
Land Rover Range Rover
- Starting price: R3,246,100
Huracan Evo RWD coupe
- Starting price: R5,200,000
Lexus LS 500 F Sport
- Starting price: R2,543,600
Mahindra XUV700
- Starting price: R569,999
Maserati MC20
- Starting price: R6,900,000
Mazda CX-60
- Starting price: R739,800
McLaren 765
- Starting price: POA
Mercedes AMG EQS Sedan
- Starting price: R3,415,250
Mini Cooper Countryman
- Starting price: R645,286
Mitsubishi Pajero Sport
- Starting price: R769,990
Nissan Patrol
- Starting price: R1,739,900
Opel Zafira
- Starting price: R819,000
Peugeot 5008
- Starting price: R782,000
Porsche Taycan
- Starting price: R2,527,000
Renault Megane
- Starting price: R949,999
Rolls Royce Phantom
- Starting price: POA
Subaru WRX
- Starting price: R799,000
Suzuki Vitara
- Starting price: R438,900
Toyota GR Supra
- Starting price: R1,488,000
VW Touareg V6 TDI Luxury
- Starting price: R1,365,100
Volvo XC90
- Starting price: R1,312,900
Read: How South Africans could save up to R700 on a tank of petrol
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