{"id":734783,"date":"2023-12-03T15:00:00","date_gmt":"2023-12-03T13:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=734783"},"modified":"2023-12-01T14:13:11","modified_gmt":"2023-12-01T12:13:11","slug":"all-the-suvs-you-can-get-for-under-r650000-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/motoring\/734783\/all-the-suvs-you-can-get-for-under-r650000-in-south-africa\/","title":{"rendered":"All the SUVs you can get for under R650,000 in South Africa"},"content":{"rendered":"\n

New vehicles have become quite expensive in South Africa, including Sport Utility Vehicles (SUVs), with only 16 models priced under R650,000 in South Africa right now.<\/p>\n\n\n\n

SUVs have become increasingly popular in South Africa due to their versatility and practicality on the country’s roads. The diverse terrain and challenging road conditions make SUVs a practical choice.<\/p>\n\n\n\n

Whether navigating rough off-road trails or tackling pothole-ridden city streets, SUVs offer a higher ground clearance and sturdy build, providing drivers with confidence and safety. As a result, they have become a common sight on the country’s roads.<\/p>\n\n\n\n

South Africans enjoy outdoor activities and adventure. SUVs offer the versatility and capability to explore the country’s diverse landscapes, from national parks to camping trips. <\/p>\n\n\n\n

With ample cargo space and towing capacity, SUVs are perfect for carrying equipment and gear, catering to the needs of families and outdoor enthusiasts. <\/p>\n\n\n\n

However, despite their popularity, this vehicle class has become relatively expensive due to its size, fuel consumption, and inflationary increases in the manufacturing costs of vehicles in South Africa.<\/p>\n\n\n\n

According to TransUnion\u2019s latest Vehicle Pricing Index (VPI), the price of new vehicles, on average, increased by 6.7% in 2023.<\/p>\n\n\n\n

Although this is already slightly above inflation (CPI), TransUnion noted that this is forecasted to increase further in the upcoming months.<\/p>\n\n\n\n

The price increases in three segments exceeded CPI,  and the price of all new vehicles is forecasted to increase in the coming months, noted the report.<\/p>\n\n\n\n

On average, the price of all body types increased over the period, with medium SUVs and hatchbacks seeing the steepest increases at 7.4% in Q2 2023. Other YoY price increases included: Small SUVs (6.8%), premium and hybrids (6.6%), Crossovers (6.4%), and Electric (3.1%).<\/p>\n\n\n\n

This has meant that there are now only three SUVs \u2013 the Mahindra Scorpio-N, Mahindra XUV700, and the Haval H6 \u2013 retailing for under R500,000.<\/p>\n\n\n\n

On the other end of the spectrum, the most expensive SUV under R650,000 is the Kia Sportage \u2013 retailing at R637,995.<\/p>\n\n\n\n

To put the cost of these vehicles into perspective, one could look at how much you\u2019d have to earn to afford these vehicles.<\/p>\n\n\n\n

Assuming a term of 60 months (5 years) at an interest rate of 11.75% with a 0% balloon payment, one would have to earn just over R42,000 to afford the cheapest SUV (the Mahindra Scorpio-N).<\/p>\n\n\n\n

The 16 SUVs currently on sale for under R650,000 in South Africa are listed below, with pricing.<\/p>\n\n\n\n

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Mahindra Scorpio-N<\/strong><\/p>\n\n\n\n