South Africa’s Used Car Market: Bakkies Driving Price Increases
Data reveals pricing trends in the used car market in South Africa. Take a look…
The latest data released by automotive portal Cars.co.za and car pricing experts getWorth reveals which brands and vehicles are driving prices upward in the South African used car market.
In the four years leading up to the first COVID19-related Lockdown, all used car price categories (limited to cars 2010 and newer, with list prices below R800 000) had displayed steadily and gently falling prices. Since the first Lockdown, however, and particularly since around August 2020, the normal downward trend has reversed and prices have risen in all value bands, though not by the same margin across the board.
“More recently, prices have started to stabilise, particularly in the very important R200 000 and R300 000 bracket,” says Colin Morgan, Chief Financial Officer of getWorth. “There remains, however, some upwards momentum in the R400 000 to R600 000 price bands, while the top end has dropped in recent months. Interestingly, cars priced below R100 000 have not risen to the same extent, but this segment does tend to fluctuate more.”
And which brands are still seeing price growth? “Bakkies are really important within the price-growth context,” says Cars.co.za’s Consumer Experience Manager, Hannes Oosthuizen. The Toyota Hilux, Ford Ranger and Isuzu D-Max/KB are consistently achieving Top 10 positions based on vehicle requests (leads) on Cars.co.za, and the demand for these vehicles is fuelling further growth. “The most recent data shows that prices for Toyota and Isuzu, in particular, have continued to rise, but that Ford is starting to stabilise.”
“Indeed, Single-Cab and Double-Cab bakkies have both shown strong price growth since the first Lockdown, but while Single-Cabs are still edging upwards, Double-Cabs have started to flatten off,” says Morgan.
Brands like Kia, Renault and Hyundai are edging closer to pre-Lockdown levels, while Volkswagen, Mercedes-Benz and Nissan are showing stronger growth relative to 2019.
Reflecting the general trend away from sedan vehicles, this body type has shown the lowest increases and actually still sits below 2019 levels. The vehicle type that most sedan buyers are shifting towards ⎼ SUVs ⎼ are showing slight promise of growth.
How are the price changes measured?
The data used in this analysis is not based on a general used car market inflation index. “Average used car prices tend to rise,” says Morgan. “New, more expensive cars enter the market and older, cheaper ones leave.”
The data used here aims to provide a “like-for-like” index, using publicly listed retail prices of actual used cars in the market. For example, it shows the price change for a 2016 Toyota Hilux with 30 000km a year ago and a 2016 Hilux with 30 000km today, not a Hilux with 45 000km today.
The Top 10 most-requested cars on Cars.co.za during October 2021
- Volkswagen Polo
- Toyota Hilux
- Ford Ranger
- BMW 3 Series
- Mercedes-Benz C-Class
- Volkswagen Polo Vivo
- Volkswagen Golf
- Toyota Fortuner
- Toyota Corolla
- Isuzu KB/D-Max
Related Content
Top 10 Best Value Used Cars on Cars.co.za



