Women in South Africa are catching up to men in financed car purchases and already lead in homeownership (see Women are claiming their place in property ownership), shifts which reflect their growing socio-economic independence.
Women now account for 39% of financed car purchases (see graph below), up from 32% a decade earlier, while the men’s share of financed vehicle purchases has dropped from 68% to 61% in the same period.
Share of financed vehicle purchases
South Africa celebrates Women’s Month in August, and Lightstone took a look at the top five brands and bodyshapes women go for. Toyota remains the preferred brand for women car buyers, while previous favourite Volkswagen is in second spot. Ford, which held top spot in 2017 has dropped to fourth, and Suzuki is third favourite after only entering the top five in 2022. After an absence of two years, Nissan has replaced Hyundai in the top five.
Top 5 brand preferences for women
As with men, women have switched their bodyshape preference to Crossover/SUVs, while the Hatch has dropped to second choice. The Sedan/Estate has dropped below the Double Cab Pick-up.
Bodyshape preferences for women
Over the past decade, the majority of women have demonstrated a consistent preference (see graph below) for financing options with linked interest rates.
Women's financing choices
