There is reason for “cautious optimism” when it comes to the used car market in SA. That’s according to George Mienie, CEO of AutoTrader, who points to a number of positive trends in this sector of the automotive industry.
“Prices have begun to increase – albeit slightly – while cars are also selling faster than experienced earlier this year. Both of these factors bode well for the used car market,” he notes.
His statements are based on AutoTrader’sUsed Car Rate of Sale (ROS) indicator, which has just been released for the period ending June 2020. As the largest digital automotive marketplace in SA, AutoTrader provides unparalleled insight into car-buying patterns in the country. ROS specifically provides an understanding of which cars South Africans are purchasing the fastest.
According to this data, the fastest-selling used vehicle in SA at the end of June was the Volkswagen Polo Vivo, which took a mere 25 days to sell. “This confirms the popularity of the Volkswagen brand yet again; it was also the most sold brand last month,” notes Mienie.