{"id":239293,"date":"2018-04-19T18:00:06","date_gmt":"2018-04-19T16:00:06","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=239293"},"modified":"2018-04-19T17:48:31","modified_gmt":"2018-04-19T15:48:31","slug":"how-much-the-average-joe-south-african-is-paying-for-a-new-car-right-now","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/motoring\/239293\/how-much-the-average-joe-south-african-is-paying-for-a-new-car-right-now\/","title":{"rendered":"How much the \u2018average Joe\u2019 South African is paying for a new car right now"},"content":{"rendered":"

New data published by financial services company Wesbank shows how much the average South African is currently willing, or able to pay for a new vehicle.<\/p>\n

According to Ghana Msibi, WesBank\u2019s executive head for sales and marketing, the new vehicle industry showed a minor upswing in March with a total of 49,233 new vehicles sold – up 1.1% year on year.<\/p>\n

This was likely due to pre-emptive buying Msibi said, as motorists attempted to beat a number of tax increases which were introduced in April.<\/p>\n

“Following the budget speech indicating an increase in VAT and ad valorem tax from 1 April, it is our view that consumers opted to avoid the increases this would have on vehicle purchase prices,” he said.<\/p>\n

“These, combined with the renewed consumer and business confidence, and a reduction in the repo rate, contributed to the growth in the passenger car segment.”<\/p>\n

Despite this uptick, motorists are actually financing their new vehicle purchases for slightly less than a year ago, at R298,225 – down from R298,758 in March 2018.<\/p>\n

Vehicle sales by channel showed dealerships accounted for 42,038 purchases, with rental at 2,608, government at 900, and single sales at 1,308 vehicles.<\/p>\n

Wesbank said application volumes for new vehicles amounted to 40,761 <\/strong>in March.<\/p>\n

The three most popular passenger vehicles for March 2018 were the Volkswagen Polo Vivo (from R179,900), Volkswagen Polo (from R209,500), and Toyota Fortuner (R454,500).<\/p>\n

So what does the ‘average’ car looks like based on this price point? BusinessTech looked at three options across the major segments in the industry.<\/p>\n

\n

Hatch<\/strong><\/p>\n

Renault Megane hatch 84kW Dynamique – R295,900<\/strong><\/p>\n

\"\"<\/a><\/p>\n

 <\/p>\n

Hyundai i20 1.4 Sport – R292,900<\/strong><\/p>\n

\"\"<\/a><\/p>\n

Fiat Tipo hatch 1.4 Lounge – R294,900<\/strong><\/p>\n

\"\"<\/a><\/p>\n

\n

Sedan<\/strong><\/p>\n

Hyundai Elantra 1.6 Executive – R299,900<\/strong><\/p>\n

\"\"<\/a><\/p>\n

Toyota Corolla 1.3 Prestige – R291,200<\/strong><\/p>\n

\"\"<\/a><\/p>\n

Mazda 3 sedan 1.6 Dynamic auto – R299,600<\/strong><\/p>\n

\"\"<\/a><\/p>\n

\n

Cross-over\/SUV<\/strong><\/p>\n

Mahindra XUV 500 – R282,500<\/strong><\/p>\n

\"\"<\/a><\/p>\n

Mahindra Scorpio – R291,995<\/strong><\/p>\n

\"\"<\/a><\/p>\n

Maxda Cx-3 – R290,800<\/strong><\/p>\n

\"\"<\/a><\/p>\n

 <\/p>\n

\n

Bakkie\u00a0<\/strong><\/p>\n

Ford Ranger Super Cab – R296,800<\/strong><\/p>\n

\"\"<\/a><\/p>\n

GWM Steed 6 Double-cab – R299,900<\/strong><\/p>\n

\"\"<\/a><\/p>\n

Fiat Fullback single-cab – R280,900<\/strong><\/p>\n

\"\"<\/a><\/p>\n

\n

Read: 8 diesel cars you can buy in South Africa for less than R300,000<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

New data published by financial services company Wesbank shows how much the average South African is currently willing, or able to pay for a new vehicle.<\/p>\n","protected":false},"author":10,"featured_media":239379,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11119],"tags":[26,6619],"class_list":["post-239293","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-motoring","tag-headline","tag-wesbank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/239293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=239293"}],"version-history":[{"count":13,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/239293\/revisions"}],"predecessor-version":[{"id":239393,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/239293\/revisions\/239393"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/239379"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=239293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=239293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=239293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}