Buyers switch to used cars for value, from IOL Motoring.
Johannesburg – According to recent forecasts the South African new car market is likely to experience very little growth this year as motorists shift towards the used-car market.
Now, the latest statistics from online vehicle sales portal Surf4Cars shows in which segments buyers are shopping, as well as what they’re most interested in.
“The needs of the market are fairly clear when looking at the data,” said Charles Grassie, Managing Director at Surf4Cars. “And the picture painted is one of affordability: the majority of searches are for small family hatchbacks in the entry-level price bands.”
Of all used-car searches performed on Surf4Cars in the last quarter, 60 percent were for vehicles that cost between R150 000 and R200 000. These are buyers who have a reasonable budget for a car, but high price inflation for new cars means that they’re less likely to shop new and are looking for better value in the pre-owned space.