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Used car market moves billions in car sales in January

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The pre-owned market is gaining from losses in the new car sector

The VW Polo was the most sought after pre-owned vehicle on AutoTrader last month. Picture: SUPPLIED

The number of sales has accelerated from a six-month average of 7% to almost 11% in January 2020 versus January 2019. This is a good lagging indicator of consumer demand. This is an increase of more than 3,500 cars and R900m over January 2019, he says. According to Mienie, the majority of used car sales in January occurred in Gauteng. “Gauteng accounted for 59% of total sales, with 15% coming from Western Cape and 13% hailing from KwaZulu-Natal."

The most searched-for brand in January was BMW. “It was interesting to see searches for BMW increased by a considerable 54.77% versus December 2019. Volkswagen was the second most searched for brand, followed by Mercedes-Benz, Toyota and Audi."

 

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