Used car buyers are in for a treat – some of the country’s most-loved vehicles are now selling for R10,000 to R40,000 less than what they cost in March 2020
This revelation comes after an analysis of sales data on AutoTrader. The company’s team of data specialists analysed the average prices for cars sold in March compared to those sold in May. “For example, a Toyota Corolla with 89,000 to 93,000km on the clock sold on average for R228,484 in March and for R184,300 in May – that’s R44,184 less for the same car. This trend can also be seen in bakkies.
Even the country’s most popular used vehicle – the Ford Ranger – recorded a reduction on average of R10,263 for a car with a mileage between 87,000 and 88,000km, dropping from R320,454 in March toAutoTrader anticipates pricing reductions like these to continue in June. “The entire market is down 4.1% year-on-year as recorded in our Retail Pricing Index. If you were considering buying a car before lockdown and you still have the ability to do so, now is a good time,” Mienie concludes.
As the country’s largest motoring marketplace, car searches and sales via AutoTrader have long been regarded as an accurate barometer of consumer buying patterns.
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