Used car sales momentum continued to pick up in July with sales growing by 8% month-on-month. A total of 32,090 units were sold, reflecting an increase of 2,434 units over June, according to The value of used cars sold to date swelled a further 7.3% month-on-month to a whopping R12,932,363,057. Year-on-year growth rose 7.8% over July 2022’s cumulative total of R12,001,698,161.
There’s also good news for consumers. On average they paid less for a used car in July than they might have done in June, according to data on AutoTrader. “The welcome news for car shoppers is the used car average price of cars listed has come down from R406,474 in June to R403,003 in July. This drop in average price brings a measure of relief to consumers who face rising prices in just about every other sphere,” said AutoTrader CEO