South Africa’s vehicle market is showing interesting developments in both new vehicle sales and the rising value of used vehicles.
New vehicle sales in January 2022 increased by just over 19% compared to January 2021, and naamsa reports they were in fact 15% higher than December 2021.
While new vehicle sales were improving, albeit at slower levels because of the semiconductor shortage and New Vehicle Price Inflation, four-year-old vehicles were holding their value best among used vehicles – and in fact retained more value in 2022 than 2021.
Our story on four-year-old used vehicles shows the leap in value retention (retained % of a vehicle’s New List Price recorded by Signio when sold as a used vehicle) as LCVs leapt 7.84% from 72.70% in February 2021 to 78.40% a year later. PAS used vehicle retention jumped 6.53% from 72.34% to 77.06% of the 15 brands assessed, only Jaguar’s Used Vehicle Retention fell in 2022 from 2021.
We hope you enjoy our February issue!