In October, the used car market saw notable growth, with AutoTrader data revealing a 22.2% month-on-month rise in sales. A total of 34,968 units were sold compared to September.
While the vehicles occupying the top 10 spots remain unchanged, every used car and bakkie on the list enjoyed increased sales in October.
The combined value of used cars sold totalled R14.09bn, 21.59% higher than last month’s figure of R11.59bn.
The established brands remain at the top. Toyota remains the most popular, with 5,847 used cars sold, while Volkswagen and Ford followed at 5,237 and 3,660 units, respectively.
The Japanese automaker experienced an 18% month-on-month growth, while Volkswagen saw a notable increase of 27% during the same period. Ford also enjoyed a 24% MoM increase.
Hyundai has moved up two positions, now holding fifth place, while Suzuki also gained two spots, finishing in sixth. Meanwhile, Mercedes-Benz dropped from fifth to seventh. This suggests that consumers are gravitating towards more affordable options, moving away from premium brands in favour of budget-friendly offerings,” said George Mienie, CEO of AutoTrader.
The Swift, Suzuki’s popular compact hatchback, has seen impressive growth, with a 41.1% year-on-year increase. The Volkswagen Polo Vivo saw an even more significant uptick in sales, with used car sales rising by 43.5% compared to the same period last year. However, the Toyota Starlet has seen the most significant year-on-year increase, at 48.4%.
For October 2024, the Ford Ranger is the most sold model, with 2,081 used examples sold last month. The Volkswagen Polo followed in second place at 1,679 units, while the Toyota Hilux followed the hatchback closely at 1,664 units.
All three models have enjoyed year-on-year sales growth, with the Polo enjoying the biggest growth, at 17.5%. While all vehicles on the top 10 list saw increased sales compared to September 2024, year-on-year sales for the BMW 3 Series, Mercedes-Benz C-Class, and Toyota Fortuner have declined.
This supports the theory that consumers are turning away from more premium offerings, with used C-Class sales falling by -16.5% over the same period last year
On a variant level, the Polo Vivo 1.4 was the most popular used car in October 2024, with 1,142 examples sold during this period.
The more expensive Polo 1.0 TSI followed in second place with 1,075 models sold, while the Toyota Hilux 2.8 GD-6 occupied the third spot, with 711 examples sold. Finally, the average price of used cars sold in October 2024 was R403,049.
