Global market research group New World Wealth has released its latest South African Wealth Report, looking at the trends amongst the country’s wealthiest people.
A large part of the report focused on how these High Networth Individuals (HNWIs) – defined as individuals who have net assets of $1 million or more – spend their money, with purchases ranging from property, to art and fashion.
However, one of the most popular purchases remains cars, with South Africa’s wealthiest splurging on a number of high-end vehicles.
The report noted that luxury SUVs are especially popular with SA’s super-rich, primarily because of their:
- High road clearance (SUVs handle potholes and bad roads better than luxury sedans and sports cars);
- Safety aspects;
- Space for children; and
- Usefulness for holidays – off road, game reserves etc.
The report also noted that South Africa’s HNWIs have clear favourites when it comes to brands, with Porsche the most popular brand when it comes to revenue earned in South Africa, followed by Ferrari and Bentley.
|Brand ranked by SA revenue||Dealership locations|
|Porsche||Sandton, Cape Town, Umhlanga|
|Ferrari||Sandton, Cape Town, Durban|
|Aston Martin||Sandton, Cape Town|
|Lamborghini||Sandton, Cape Town|
|Mclaren||Sandton, Cape Town|
Most popular SUVs
*Rand values calculated at R11.89 to the dollar as at 10:00 on 5 April 2018.
Porsche Cayenne Turbo – $110,000 (R1,308,296)
Range Rover 5.0L V8 – $100,000 (R1,189,360)
BMW X6 – $70,000 (R832,552)
Mercedes GLE Coupe – $70,000 (R832,552)
Most popular sports cars
Rolls-Royce Phantom – $420,000 (R5,003,607)
Ferrari F12 Berlinetta – $310,000 (R3,693,138)
Rolls Royce Ghost – $295,000 (R3,514,438)
Ferrari 458 Italia – $240,000 (R2,859,204)
Ferrari California – $205,000 (R2,442,236)
Bentley Continental – $200,000 (R2,382,670)
Aston Martin DB9 – $198,000 (R2,358,843)
Porsche 911 Turbo – $160,000 (R1,906,136)
Mercedes-Benz AMG SL – $140,000 (R1,667,869)
Porsche 911 Carrera 4 – $90,000 (R1,072,201)