{"id":50200,"date":"2020-07-23T09:43:51","date_gmt":"2020-07-23T07:43:51","guid":{"rendered":"https:\/\/novanews.co.za\/udexpress\/cautious-optimism-in-used-car-market-20200722-2\/"},"modified":"2025-03-21T15:00:52","modified_gmt":"2025-03-21T13:00:52","slug":"cautious-optimism-in-used-car-market-20200722-2","status":"publish","type":"post","link":"https:\/\/novanews.co.za\/udexpress\/cautious-optimism-in-used-car-market-20200722-2\/","title":{"rendered":"\u2018Cautious optimism\u2019 in used car market"},"content":{"rendered":"\n<div contenteditable=\"false\" data-embed24=\"Images\" data-pos=\"middle\" id=\"embed_e5e8dd9b\">\n<div class=\"slide\"><img decoding=\"async\" alt=\"\" data-smallsrc=\"https:\/\/cdn.24.co.za\/files\/Cms\/General\/d\/9021\/2a56c1ed8f0b46fd9f30341a2c640a76.jpeg\" src=\"https:\/\/cdn.24.co.za\/files\/Cms\/General\/d\/9021\/7203bfdb54fe4732be540a47eb2609cd.jpeg\" title=\"Based on AutoTrader\u2019s Used Car Rate of Sale (ROS) indicator, Toyota Fortunter was the second-fastest selling vehicle last month (26 days to sell), followed by the Hilux (26 days). The fastest-selling used vehicle in South Africa at the end of June was the Volkswagen Polo Vivo, which took a mere 25 days to sell.                                     Photo:SUPPLIED\"><p><\/p>\n<div class=\"caption\">Based on AutoTrader\u2019s Used Car Rate of Sale (ROS) indicator, Toyota Fortunter was the second-fastest selling vehicle last month (26 days to sell), followed by the Hilux (26 days). The fastest-selling used vehicle in South Africa at the end of June was the Volkswagen Polo Vivo, which took a mere 25 days to sell.                                     Photo:SUPPLIED<\/div>\n<div class=\"img_accreditation\"><span class=\"source\" style=\"display:none;\"><\/span><span class=\"photographer\" style=\"display:none;\"><\/span><\/div>\n<\/div>\n<\/div>\n\n\n\n<p>THERE is reason for \u201ccautious optimism\u201d when it comes to the used car market in South Africa. <\/p>\n\n\n\n<p>That\u2019s according to George Mienie, CEO of AutoTrader, who points to a number of positive trends in this sector of the automotive industry.<\/p>\n\n\n\n<p>\u201cPrices have begun to increase \u2013 albeit slightly \u2013 while cars are also selling faster than experienced earlier this year. Both of these factors bode well for the used car market,\u201d said Mienie.<\/p>\n\n\n\n<p>His statements are based on AutoTrader\u2019s Used Car Rate of Sale (ROS) indicator, which has just been released for the period ending June 2020. As the largest digital automotive marketplace in South Africa, 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. <\/p>\n\n\n\n<p>According to this data, the fastest-selling used vehicle in South Africa at the end of June was the Volkswagen Polo Vivo, which took a mere 25 days to sell. <\/p>\n\n\n\n<p>\u201cThis confirms the popularity of the Volkswagen brand yet again; it was also the most sold brand last month,\u201d said Mienie.<\/p>\n\n\n\n<p>Toyota was the second most sold brand last month and so it wasn\u2019t surprising to see two vehicles from that manufacturer complete the podium positions. <\/p>\n\n\n\n<p>\u201cThe Fortuner was the second-fastest selling vehicle last month (26 days to sell), followed by the Hilux (26 days),\u201d said Mienie.<\/p>\n\n\n\n<p>AutoTrader\u2019s Retail Price Index (RPI) shows a 1,2% increase in prices in June (month-on-month). The average selling price of a car for the month of June was R274 221. \u201cThis is a small increase, but it is positive news for retailers indeed. It also means that demand for used cars continues to rise.<\/p>\n\n\n\n<p>\u201cConsumer propensity for increased spending albeit on used cars, is always a good thing for the automotive industry as a whole as we know the used car market is a much bigger market than the new in South Africa,\u201d said Mienie.<\/p>\n\n\n\n<p>Top five fastest selling used cars, June 2020:<\/p>\n\n\n\n<p>1. Volkswagen Polo Vivo (within 25 days) <\/p>\n\n\n\n<p>2. Toyota Fortuner (26) <\/p>\n\n\n\n<p>3. Toyota Hilux (26)<\/p>\n\n\n\n<p>4. Volkswagen Polo (26) <\/p>\n\n\n\n<p>5. Nissan NP200 (28)<\/p>\n\n\n\n<p>(Issued: haveyoursayza)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>THERE is reason for \u201ccautious optimism\u201d when it comes to the used car market in South 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