South Africa Used Car Market Growth, Size, Trends, Demand, Share, Revenue and Future Outlook
South Africa Used Car Market Size- By Vehicle, By Body Type, By Fuel Type, By Vendor Type, By Size, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Sep-2024 | Report ID: AMIN24203 | Pages: 1 - 108 | Formats*: |
| Category : Automotive & Transportation | |||
South Africa Used Car Market Introduction and Overview
According to SPER Market Research, the South Africa Used Car Market is estimated to reach USD 44.09 billion by 2033 with a CAGR of 10.65%.
The report includes an in-depth analysis of the South Africa Used Car Market, including market size and trends, product mix, applications, and supplier analysis. A used car, often known as a pre-owned vehicle, is a motor vehicle that has had one or more previous owners. A used car, as compared to a new car, which comes directly from the manufacturer or an authorized dealer and has never been registered or used before, has a history of ownership and usually shows some wear and tear. These automobiles are frequently sold through multiple channels, including as dealerships, private sales, auctions, and certified pre-owned programs. The most notable advantage of purchasing a used automobile is cost savings, as used cars are typically substantially less expensive than new vehicles owing to depreciation. Used car purchasers have more choices of makes, models, and years to pick from, making it easier to find a vehicle of their own choice.
- April 2023: Autocheck, a Nigeria-based auto selling and purchasing website, has purchased a majority stake in AutoTager, Egypt's used car marketplace. The acquisition enables Autocheck to strengthen its footprint in South Africa, beginning with Egypt, Africa's second-largest vehicle market. The company currently operates in nine countries throughout Africa.
- September 2022: Carzami Inc., an Egyptian-based online retailer of great used automobiles and vehicle financing, announced the completion of a pre-seed round headed by Contact Financial Holdings, as well as a scalable inventory financing facility, which it intends to use to alter Egypt's used car sector.
Market Opportunities and Challenges
Opportunities- The South African used car market is expanding rapidly, driven by a variety of factors such as rising consumer demand for low-cost vehicles, technological developments, and the rise of organized dealerships. One of the key growth factors is a growing preference for certified and pre-inspected used cars, which provide confidence about the vehicle's quality and reliability. These certificates increase consumer confidence, making it easier for purchasers to choose used cars over new ones. The development of e-commerce and internet platforms is another important aspect driving the used automobile market. Online markets such as Cars.co.za and AutoTrader have made it easier for buyers to compare pricing, examine vehicle listings, and complete transactions without having to visit physical dealerships.
Challenges- Despite its rise, South Africa's used car sector has numerous challenges. Economic challenges such as inflation, fluctuating gasoline prices, and currency volatility have a substantial impact on the affordability of used vehicles. Prices for both new and used cars are rising faster than inflation, making it harder for many customers to purchase vehicles. A major obstacle in this industry is a lack of openness, which generates trust issues for purchasers. Despite the expansion of e-commerce platforms, concerns regarding vehicle history, quality, and potential fraud remain prevalent in online sales. Many consumers are cautious to trust used car dealerships, especially those in the unorganized sector, due to the stigma associated with purchasing used vehicles.
Market Competitive Landscape
The South Africa Used Car Market is a highly competitive arena due to the presence of multiple global and regional companies in the competitive environment. Leading companies in the industry are Al-Futtaim Group, Abdul Latif Jameel Motors, Yalla Motor, Autotrader South Africa, Cars 4 Africa, Carzami, Autochek Africa, AutoTager, Cars45.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Vehicle, By Body Type, By Fuel Type, By Vendor Type, By Size, By Distribution Channel |
| Regions covered | Gauteng, Western Cape, KwaZulu-Natal, Eastern Cape, Northern Cape, Limpopo, Mpumalanga, North West |
| Companies Covered | Al-Futtaim Group, Abdul Latif Jameel Motors, Yalla Motor, Autotrader South Africa, Cars 4 Africa, Carzami, Autochek Africa, AutoTager, Cars45. |
COVID-19 Impact on South Africa Used Car Market
The COVID-19 pandemic had a huge impact on the South African used car market, influencing both demand and supply dynamics. The lockdowns impacted the traditional car business by forcing showrooms to close, resulting in a dramatic drop in sales during the early stages of the pandemic. With the limits in effect, there were few transactions in the used car market, resulting to a backlog of both new and pre-owned vehicle inventory. Furthermore, the pandemic altered consumer behaviour, with consumers using internet platforms to search for and buy cars. During shutdown periods, digital portals such as AutoTrader saw a rise in searches for used vehicles, indicating a growing interest in second-hand cars as a financially realistic option.
Key Target Audience:
- Price-Conscious Consumers
- First-Time Car Buyers
- Urban Commuters
- Small and Medium-Sized Enterprises
- Rural Buyers
- Tech-savvy Consumers
- Luxury Vehicle Seekers
- Students
- Fleet Buyers
Our in-depth analysis of the South Africa Used Car Market includes the following segments:
| By Vehicle: | |
| By Body Type: | |
| By Fuel Type: | |
| By Vendor Type: | |
| By Size: | |
| By Distribution Channel: |
Key Topics Covered in the Report:
- South Africa Used Car Market Size (FY’2024-FY’2033)
- Overview of South Africa Used Car Market
- Segmentation of South Africa Used Car Market by Vehicle (Conventional, Hybrid, Electric)
- Segmentation of South Africa Used Car Market by Body Type (Hatchbacks, Sedan, SUV, Others)
- Segmentation of South Africa Used Car Market by Fuel Type (Petrol, Diesel, Others)
- Segmentation of South Africa Used Car Market by Vendor Type (Organized, Unorganized)
- Segmentation of South Africa Used Car Market by Size (Mid-size, Compact, SUVs)
- Segmentation of South Africa Used Car Market by Distribution Channel (Offline, Online)
- Statistical Snap of South Africa Used Car Market
- Expansion Analysis of South Africa Used Car Market
- Problems and Obstacles in South Africa Used Car Market
- Competitive Landscape South Africa Used Car Market
- Impact of COVID-19 and Demonetization on South Africa Used Car Market
- Details on Current Investment in South Africa Used Car Market
- Competitive Analysis of South Africa Used Car Market
- Prominent Players in the South Africa Used Car Market SWOT Analysis of South Africa Used Car Market
- South Africa Used Car Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the South Africa Used Car Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. South Africa Used Car Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in South Africa Used Car Market
7. South Africa Used Car Market, By Vehicle (USD Million) 2020-2033
7.1. South Africa Used Car Market Size, Share and Forecast, By Vehicle, 2020-20267.2. South Africa Used Car Market Size, Share and Forecast, By Vehicle, 2027-20337.3. Conventional7.4. Hybrid7.5. Electric
8. South Africa Used Car Market, By Body Type (USD Million) 2020-2033
8.1. South Africa Used Car Market Size, Share and Forecast, By Body Type, 2020-20268.2. South Africa Used Car Market Size, Share and Forecast, By Body Type, 2027-20338.3. Hatchbacks8.4. Sedan8.5. SUV8.6. Others
9. South Africa Used Car Market, By Fuel Type (USD Million) 2020-2033
9.1. South Africa Used Car Market Size, Share and Forecast, By Fuel Type, 2020-20269.2. South Africa Used Car Market Size, Share and Forecast, By Fuel Type, 2027-20339.3. Petrol9.4. Diesel9.5. Others
10. South Africa Used Car Market, By Vendor Type (USD Million) 2020-2033
10.1. South Africa Used Car Market Size, Share and Forecast, By Vendor Type, 2020-202610.2. South Africa Used Car Market Size, Share and Forecast, By Vendor Type, 2027-203310.3. Organized10.4. Unorganized
11. South Africa Used Car Market, By Size (USD Million) 2020-2033
11.1. South Africa Used Car Market Size, Share and Forecast, By Size, 2020-202611.2. South Africa Used Car Market Size, Share and Forecast, By Size, 2027-203311.3. Mid-Size11.4. Compact11.5. SUVs
12. South Africa Used Car Market, By Distribution Channel (USD Million) 2020-2033
12.1. South Africa Used Car Market Size, Share and Forecast, By Distribution Channel, 2020-202612.2. South Africa Used Car Market Size, Share and Forecast, By Distribution Channel, 2027-203312.3. Offline12.4. Online
13. South Africa Used Car Market Forecast, 2020-2033 (USD Million)
13.1. South Africa Used Car Market Forecast Size and Market Share
14. South Africa Used Car Market Forecast, By Region, 2020-2033 (USD Million)
14.1. South Africa Used Car Market Forecast Size and Market Share By Region (2020-2026)14.2. South Africa Used Car Market Forecast Size and Market Share By Region (2027-2033)14.3. South Africa14.3.1. Gauteng14.3.2. Western Cape14.3.3. KwaZulu-Natal14.3.4. Eastern Cape14.3.5. Northern Cape14.3.6. Limpopo14.3.7. Mpumalanga14.3.8. North West
15. Company Profile
15.1. AL-FUTTAIM GROUP15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments15.2. ABDUL LATIF JAMEEL MOTORS15.2.1. Company details15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments15.3. YALLA MOTOR15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments15.4. AUTOTRADER SOUTH AFRICA15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments15.5. CARS 4 AFRICA15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments15.6. CARZAMI15.6.1. Company details15.6.2. Financial outlook15.6.3. Product summary15.6.4. Recent developments15.7. AUTOCHEK AFRICA15.7.1. Company details15.7.2. Financial outlook15.7.3. Product summary15.7.4. Recent developments15.8. AUTOTAGER15.8.1. Company details15.8.2. Financial outlook15.8.3. Product summary15.8.4. Recent developments15.9. CARS4515.9.1. Company details15.9.2. Financial outlook15.9.3. Product summary15.9.4. Recent developments15.10. Others
16. Conclusion
17. List of Abbreviations
18. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
South Africa Used Car Market is projected to reach USD 44.09 billion by 2033, growing at a CAGR of 10.65% during the forecast period.
South Africa Used Car Market grew in Market size from 2024. The Market is expected to reach USD 44.09 billion by 2033, at a CAGR of 10.65% during the forecast period.
South Africa Used Car Market CAGR of 10.65% during the forecast period.
You can get the sample pages by clicking the link - Click Here
South Africa Used Car Market size is USD 44.09 billion from 2024 to 2033.
South Africa Used Car Market is covered By Vehicle, By Body Type, By Fuel Type, By Vendor Type, By Size, By Distribution Channel
The Middle East is anticipated to have the highest Market share in the South Africa Used Car Market.
The key players in the Market include Companies Covered Al-Futtaim Group, Abdul Latif Jameel Motors, Yalla Motor, Autotrader South Africa, Cars 4 Africa, Carzami, Autochek Africa, AutoTager, Cars45.
The high cost of advanced diabetes drugs and the financial burden of treating diabetes remain major obstacles to market growth, despite the fact that numerous drugs have been approved for the condition and that governments and industry players are launching numerous initiatives.
PLACE AN ORDER
Year End Discount
Sample Report
Pre-Purchase Inquiry
NEED CUSTOMIZATION?
Request CustomizationCALL OR EMAIL US
100% Secure Payment
Related Reports
Have a glance of the Report
Our Global Clients
Our data-driven insights have influenced the strategy of 200+ reputed companies across the globe.
