Toyota Leads the Charge in SA's Pre-Owned Vehicle Market as Sales Accelerate

South Africa's pre-owned car market demonstrated robust health in 2023, with sales figures indicating a sustained consumer appetite for reliable and affordable vehicles. Despite global economic uncertainties, the second-hand car industry kept momentum thanks in no small part to the persistent performances of established automakers coupled with the invigorating growth of Asian car brands.

According to comprehensive data unveiled by AutoTrader, the South African used car market experienced a 4.6% increase in sales year-over-year. This escalation in performance led to the exchange of 367,075 vehicles at an impressive average price of R399,163, culminating in a 7.7% boost in the market's total value, reaching R146.5 billion.

Toyota remained the undoubted market leader, continuing to captivate South African motorists. The Japanese giant solidified its top spot with staggering sales of 60,296 units throughout the year. Volkswagen and Ford maintained their pursuit, while luxury European marques BMW and Mercedes-Benz completed the top five.

Highlighting a poignant change in the market dynamics, Asian brands made significant gains. Suzuki became the breakout sensation, registering an unparalleled year-on-year growth of 28.8%. Analysts may attribute this surge to the brand's competitive pricing and the burgeoning reputation of its vehicles for reliability and low maintenance costs. Kia, not far behind, registered a 16.6% jump in sales, showcasing the burgeoning confidence in Asian automotive engineering among South African drivers.

However, the trend wasn't as fortuitous for all. The German automotive industry found itself at a crossroads, facing sobering realities in the used car market. BMW, Mercedes-Benz, and Audi – the latter slipping two positions down the rankings – were the only German brands to witness a sales uptick among the top 10. Even the VW Polo, a staple in the South African market and the third most-sold model of 2023, saw its sales dwindle by 4.54%.

The Ford Ranger secured the coveted status as the most popular pre-owned model with an impressive 20,156 units sold, outpacing its rivals. The Toyota Hilux, VW Polo, VW Polo Vivo, and Toyota Fortuner followed suit. Notably, the Ranger extended its lead from 2022, boasting a substantial sales growth of 15.96%, compared to Hilux's modest 2.25% increase.

In the competitive hatchback segment, Volkswagen's VW Polo 1.0TSI emerged as the variant of choice among South African consumers, selling 9,318 units and outperforming its brethren, the Polo Vivo 1.4. Alongside them, bakkies like the Toyota Hilux 2.8GD-6 and Ford Ranger XL showed solid performance, and the adventure-ready Jeep Wrangler Sahara also made a notable entry, securing sixth place with 3,007 sales.

These trends underline a vibrant and resilient second-hand car market in South Africa, one that has been adept at navigating through fluctuations and shifting preferences. As the market continues to evolve, the data signals a competitive future where reliability, value for money, and brand loyalty will continue to shape consumer choices.