Data published by Cars.co.za shows that South Africans paid on average R236,900 in 2021 for a used vehicle, higher than the average in 2020 and indicative of a trend that used car prices have continued to increase.
The price bracket between R200,000 and R300,000 accounted for the largest percentage of enquiries submitted at 20.6% on Cars.co.za during 2021.
The top enquired about used cars included the country’s top-selling passenger vehicle, the Volkswagen Polo, while the top-selling vehicle overall in 2021, the Toyota Hilux, followed in second, and the Ford Ranger was third. The BMW 3 and Mercedes-Benz C-Class series placed fourth and fifth, respectively.
Cars.co.za noted that the Covid-19 outbreak has resulted in an unprecedented scarcity of older cars. The market value of a vehicle usually decreases as it ages, although the used car prices have instead increased over the past few years.
As a result of Covid-19, more buyers were trying to purchase fewer cars, which in turn pushed prices up.
The normal trend over a two-year period would be like-for-like prices to drop by around 10% – instead, they have risen by that percentage, said Jamie Surkont, chief executive of car-pricing company GetWorth.
“We were expecting to see a normalisation in the used-car market in 2022, with a return to the longer-term price trends. The latest supply shock might mean continued rising prices, at least in certain market segments. Add in the potential for large fuel-price hikes, and we’re in for another volatile year,” said Surkont.
Here are 14 cars from major car brands you can get new for a similar price to the average used car:
- Polo Vivo Trendline
- Kiger 1.0 Zen Auto
- Baleno 1.4 GL
- Grand i10 Fluid MT
- Picanto 1.2 AT Street
- Go + 1.2 Lux auto
- X25 1.5 Fashion
- XUV300 1.2T W4
- Fiat 500
- Starting at R223,900
- Figo 1.5 Trend MT Sedan
- Amaze 1.2 Comfort
- 108 1.0 Active