{"id":789840,"date":"2024-09-07T17:00:00","date_gmt":"2024-09-07T15:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=789840"},"modified":"2024-09-06T16:46:10","modified_gmt":"2024-09-06T14:46:10","slug":"every-chinese-car-you-can-buy-in-south-africa-right-now","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/motoring\/789840\/every-chinese-car-you-can-buy-in-south-africa-right-now\/","title":{"rendered":"Every Chinese car you can buy in South Africa right now"},"content":{"rendered":"\n

The rise of Chinese car brands in South Africa has been remarkable, with many models now available to consumers. As of September 2024, South African buyers have 27 Chinese car models to choose from.<\/p>\n\n\n\n

The overall automotive market in South Africa has faced challenges in recent years. In the first quarter of 2024, new vehicle sales declined 5.6% compared to the same period in 2023.<\/p>\n\n\n\n

Various industry experts attribute this drop to several economic pressures, including high interest rates, rising fuel costs, and broader economic difficulties. <\/p>\n\n\n\n

These factors have created a challenging environment for both consumers and car manufacturers.<\/p>\n\n\n\n

Amid this economic strain, many car buyers have shifted their focus toward more affordable vehicles offering better value.<\/p>\n\n\n\n

This shift in consumer behaviour has created a significant opportunity for Chinese carmakers to thrive in South Africa, as they provide budget-friendly alternatives to the typically more expensive premium vehicle brands. <\/p>\n\n\n\n

With affordability becoming a key driver of consumer choice, Chinese brands have successfully tapped into this growing demand for low-cost options, positioning themselves as strong contenders in the market.<\/p>\n\n\n\n

One of the clearest indicators of Chinese car brands’ success in South Africa is their growing presence in vehicle financing deals.<\/p>\n\n\n\n

Data from Standard Bank’s vehicle finance division reveals that the share of Chinese brands in the bank\u2019s new car financing deals increased from just over 6% in 2022 to 7.4% in the first half of 2024. <\/p>\n\n\n\n

This growth is particularly impressive given the broader decline in new car sales nationwide, highlighting the increasing preference for Chinese models.<\/p>\n\n\n\n

Among the Chinese brands, GWM Haval continues to lead the pack as the most popular brand financed by Standard Bank, followed closely by Chery and BAIC. <\/p>\n\n\n\n

These brands have gained the most traction in Gauteng, accounting for 54% of all Chinese car financing deals, while KwaZulu-Natal and the Western Cape also contribute to their growing popularity.<\/p>\n\n\n\n

In addition to new car sales, the used car market for Chinese brands is also expanding at a rapid pace.<\/p>\n\n\n\n

Standard Bank reports that the proportion of used Chinese cars financed by the bank rose from 20% in 2022 to 36% by July 2024. <\/p>\n\n\n\n

This shift towards used cars reflects a broader trend in the South African automotive market, as consumers increasingly opt for second-hand vehicles to avoid the high costs associated with buying new ones. <\/p>\n\n\n\n

Currently, used cars account for 70% of Standard Bank\u2019s vehicle finance deals, underscoring the shift toward more affordable options.<\/p>\n\n\n\n

Looking ahead, it is estimated that Chinese manufacturers will capture around 20% of the new car market in South Africa by the end of 2024. <\/p>\n\n\n\n

This would mark a significant achievement for these brands, which have steadily grown their presence in the country in recent years.<\/p>\n\n\n\n

Leading the charge among the Chinese automakers are Haval and Chery, whose sales have skyrocketed.<\/p>\n\n\n\n

Data from the National Association of Automobile Manufacturers of South Africa (Naamsa) reveals that Haval sold approximately 19,904 units by mid-2024, a dramatic increase from just 872 units in 2019. <\/p>\n\n\n\n

This growth trajectory is a clear indication of the brand\u2019s increasing popularity among South African consumers. <\/p>\n\n\n\n

Chery, another key player, is expected to report similarly impressive numbers, further cementing its position in the market.<\/p>\n\n\n\n

Other Chinese brands, including BAIC, Beijing, GWM, Jaecoo, and Omoda, are also driving the growth in South Africa\u2019s affordable car segment. <\/p>\n\n\n\n

These manufacturers offer a range of vehicles that appeal to budget-conscious buyers looking for reliable and stylish options without breaking the bank. <\/p>\n\n\n\n

Their competitive pricing, combined with an improving reputation for quality and performance, has allowed them to carve out a significant share of the market.<\/p>\n\n\n\n

The growing success of Chinese car brands in South Africa reflects a broader trend of consumers gravitating toward more cost-effective vehicles in response to economic pressures. <\/p>\n\n\n\n

As the local market continues to evolve, it is clear that Chinese automakers are well-positioned to capture an even larger share of South Africa\u2019s automotive sector in the coming years, providing a welcome alternative for budget-conscious buyers seeking value for money.<\/p>\n\n\n\n

Below are the 27 Chinese cars you can buy in South Africa as of September 2024, including their starting prices.<\/p>\n\n\n\n

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BAIC B40 Plus<\/strong><\/p>\n\n\n\n