The average price South Africans are paying for a new car right now – and what you can get

New vehicle sales data shows an increase in new vehicle sales in June, however, the financing to pay for these vehicles has declined.

Vehicle financing company Wesbank reported that the average value of new cars financed in June was R352,208, down from R369,951 over the same month a year ago.

The National Association of Automobile Manufacturers of South Africa’s (Naamsa) latest automotive industry report shows that the new vehicle market has had an ‘inspiring’ performance considering the ever-increasing challenges relating to the market.

Aggregate domestic new vehicle sales in June 2022, reflected an increase of 2,888 units (7.6%) from the 38,131 vehicles sold in June 2021, said Naamsa.

The business association reported a total of 41,019 units sold in June this year.

Head of marketing and communications at WesBank, Lebogang Gaoketse cautioned that the vehicle market remains volatile due to pandemic-related consequences continuing, recent natural disasters impacting production such as severe flooding in KwaZulu-Natal, ongoing global supply chain constraints, high fuel prices, rising interest rates and the impact of the current energy grid.

“The market is unpredictable, suffice to say that it appears demand remains higher than the market is able to deliver,” said Gaoaketse. “Based on similar performance during the second half of the year, it is possible to see a South African new-vehicle market exceed 500,000 units this year.”

BusinessTech looked at some base model new vehicles you can purchase for around R350,000.

Ford Ranger Single Cab – From R340,400

Haval Jolion – From R335,900

Renault Duster Zen – From R342,900

Toyota Corolla Cross – From R360,400

Volkswagen Caddy – From R339,900

Opel Crossland – From: R329,900

Volkswagen Polo Comfortline R-Line – From R357,800

Nissan Navara Single Cab – From R341,500

Ford EcoSport Black – From R346,710

Honda Fit Comfort – From R340,000

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