The nav» Marketplace now has over 1 million searches for a reliable second-hand vehicle, and data from the virtual dealership revealed the 10 most popular brands and the most-searched-for models by South Africans in the second-hand market.
According to the credit bureau TransUnion, rising vehicle prices and diminishing disposable incomes made it challenging for consumers to purchase vehicles, resulting in motorists holding onto their cars for longer, which led to a shortage of high-quality used vehicles. According to the report, used-vehicle prices have experienced, on average, a more significant increase than new cars, with the report recording a price increase of 9.8% in Q1 2023 .
“These trends suggest consumers are becoming more discerning as they seek value in a challenging market,” the report said.