Ever wondered which used car sells the fastest in South Africa? The answer is the Toyota Yaris, according to data compiled by AutoTrader.
This data is derived from AutoTrader’s Used Car Rate of Sale, a metric used to extract insight from AutoTrader’s evolving vehicle taxonomy database.
“The indicator provides deep insight, in real time, into which vehicles South Africans are purchasing the fastest. This is of particular value to dealers as they look to manage their liquidity better – cars that sell faster are a safer option in which to invest,” said chief executive, George Mienie.
“It is equally useful for consumers when they are buying their next car, as it will give peace of mind that they can sell the car quickly if they need to free up money,” he said.
Take the news that the Toyota Yaris is the fastest-selling used vehicle in South Africa, for instance. “The Yaris has never been the top-selling new or used vehicle in South Africa. This means that it is currently considered to be extremely desirable by used car buyers,” Mienie said.
Yet another Toyota vehicle – the Corolla Quest – follows the Yaris in ranking second. The third fastest-selling used vehicle is the Ford Fiesta.
This is in stark contrast to the top-selling new vehicles in South Africa in 2019 – the Hilux, Polo Vivo and Ford Ranger – and also the top-selling used vehicles in South Africa in 2019, namely the Volkswagen Polo, Ford Ranger and Volkswagen Polo Vivo.
The reason for the difference in ranking between those cars that sold the fastest, and those cars that sold the most, is because of age and subsequently price. “Both lists feature roughly the same models – just ordered differently,” Mienie said.
“For those cars selling the fastest, consumers are opting to buy a newer car from a more affordable category, rather than an older car from a more luxurious category. These cars are typically only three years old, and come with low mileage too. For example, the fastest-selling used car – the Yaris – is also the car with the lowest average mileage, at 26,253 km.”
In contrast, three of the vehicles on the list – the Ford Ranger, Isuzu KB and Toyota Hilux – feature the highest average mileages. “This indicates that, with bakkies, buyers don’t mind a slightly higher mileage than with a passenger car,” said Mienie.
The Toyota Fortuner and the Mercedes-Benz C-Class, which are both regularly featured in the top-selling used car lists, did not feature in the top 15 by taking two more days on average to sell than the Toyota Hilux.
Top 15 used car rate of sale ranking