Women at the wheel
SA auto market takes a turn as Heritage month approaches
This month we look at the evolving local automotive landscape, as South Africa enters Heritage month. We explore the growing influence of women in the car buying market, with women now making up 40% of financed vehicles. We delve into the rise of Chinese car brands and the resilience of the new vehicle market despite economic challenges. We share our commitment to data security and provide tips for aspiring F&I managers looking to excel in Lightstone’s Star Reacher Awards programme.
Women’s motor car preferences are changing
Buckle up! The South African automotive market is taking an interesting turn, with women at the wheel of change. Lightstone data uncovers the forces behind this shift. From their evolving tastes in cars to the brands women want.
Read MoreSales of Chinese vehicle brands accelerate
In 2019 vehicle imports from China accounted for 2% of all Light Vehicles sold in South Africa. But by 2024 this has changed to 10%. While Chery, GWM, Haval, JAC and Beijing, are among those leading China’s presence in SA, still more are about to enter the market.
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New vehicle sales show signs of resilience
The South African new vehicle market showed resilience in July 2024, up slightly on July 2023 and 11.2% more than June 2024. Passenger vehicle sales jumped but Light Commercial vehicle sales fell when compared to July 2023. New Hybrid & Electric Passenger vehicle sales continue to outperform previous years.
Read MoreWomen buying 40% of financed vehicles, Signio shows
Signio data reveals that women now make up about 40% of financed vehicles. This growth is particularly noticeable in the new car market, where women now make up 46% of all buyers, up from 40% in 2014.
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Trust the data
As a leading provider of data, analytics, and systems on automotive assets, Lightstone takes every step to safeguard the unique and proprietary datasets that empower our sophisticated analytics and spatial models. Find out what we do to secure our datasets.
Read MoreTop tips for F&Is
F&I Managers looking to shine in the Lightstone Star Reacher F&I Awards programme can unlock their potential and climb the ranks with five simple yet powerful strategies. We outline key areas to focus on, emphasising that consistent, small actions are the key to success. Get ready to go from Star Reacher to Star Winner!
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